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Airvana Network Solutions Downgraded To 'CCC' After Filing A Lawsuit Against Its Sole Customer; Ratings On Watch Dev Feb 12
Standard & Poors, Feb 2012
Abstract
U.S. network infrastructure software provider Airvana filed a lawsuit seeking a preliminary injunction against its sole customer, Ericsson AB, which it claims misappropriated critical intellectual property (IP). We are lowering all our ratings on Airvana to 'CCC' from 'B+' because of a material change in Airvana's business risk profile and the revenue vulnerability created by Ericsson's entry with a product not utilizing Airvana's IP. At the same time, we placed the ratings on CreditWatch. The developing implications indicate that we could raise, lower, or affirm the ratings. NEW YORK (Standard & Poor's) Feb. 9, 2012--Standard & Poor's Ratings Services said today that it lowered all of its credit ratings, including its corporate credit and issue ratings, on Chelmsford, Mass.-based Airvana...
Companies mentioned in this report are: Airvana Network Solutions Inc.
Action: Downgraded
Action: On CreditWatch:Developing
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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