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Recovery Report: Local TV LLC?s Recovery Rating Profile Feb 12
Standard & Poors, February 2012
Standard & Poor's Ratings Services is updating its recovery analysis on Fort Wright, Ky.-based television station Local TV LLC, to reflect the proposed amendment to and extension of the company's senior secured credit facilities. We have assigned ratings to the amended and extended facilities. We have also upwardly revised our recovery rating on the non-extended portion of the company's secured debt and raised the issue-level rating to the level of the amended and extended portion. The revision of the issue-level and recovery ratings reflects our expectation of lower senior secured debt at default, reflecting the repayment of a portion of the debt and our estimate of lower revolver borrowings at default. Our ratings on the company's senior unsecured notes remain...
Companies mentioned in this report are: Local TV LLC,Local TV Finance LLC
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.
Research Type: Full Analysis
Local TV LLC,Local TV Finance LLC