Intelsat's Unsecured Debt Issues Assigned Ratings; 'B' Corporate Credit Rating Affirmed Jun 08
Standard & Poors, June 2008
Abstract
NEW YORK (Standard & Poor's) June 24, 2008--Standard & Poor's Ratings Services today said it assigned ratings on an aggregate $7.1 billion in proposed new debt instruments issued by various subsidiaries of Bermuda-based Intelsat Ltd. Proceeds from the new debt will be used to replace existing credit agreements and bridge facilities. The credit agreements were put in place to finance the change of control provisions under three separate debt issues that were triggered by the Feb. 4, 2008, acquisition of the company by an investor group led by BC Partners. At the same time, we affirmed the 'B' corporate credit rating on Intelsat, as these proposed debt issuances were already incorporated into our rating. The outlook is stable. We are...
Companies mentioned in this report are:
- Intelsat Global S.A.
- Intelsat Subsidiary Holding Co. S.A.
Action: Affirmed
Action: New Rating
Action: Outlook: Stable
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.
- Intelsat Global S.A.
- Intelsat Subsidiary Holding Co. S.A.
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