- Language: English
- 70 Pages
- Published: June 2013
- Region: United Kingdom
Research Update: Local TV's Amended & Extended Credit Facilities Rated 'BB-' (Recovery Rating: 1) Feb 12
- Published: February 2012
- Standard & Poors
U.S.-based TV broadcaster Local TV is amending and extending its senior secured credit facilities. We are assigning the amended and extended facilities a 'BB-' issue-level rating and a '1' recovery rating. At the same time, we are revising our recovery rating on all non-extended senior secured debt to '1' from '2', and consequently raising our issue-level rating on this debt to 'BB-' from 'B+'. The stable rating outlook reflects our expectation that Local TV will be able to maintain adequate liquidity, despite its high leverage. On Feb. 2, 2012 Standard & Poor's Ratings Services assigned Fort Wright, Ky.-based Local TV Finance LLC's amended and extended senior secured credit facilities its 'BB-' issue-level rating (two notches higher than our 'B' corporate...
Companies mentioned in this report are: Local TV LLC,Local TV Finance LLC
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Local TV LLC,Local TV Finance LLC