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hibu PLC Feb 13 Product Image

hibu PLC Feb 13

  • ID: 2417765
  • February 2013
  • Standard & Poors

Abstract
Portfolio of geographically diversified and market-leading classified directories businesses. Cash-generative nature and low capital intensity of the classified directories business. Deteriorating operating performance due to adverse economic conditions and structural changes to the business model. Highly leveraged capital structure. Highly competitive environment in hibu's online markets. The company is in the process of restructuring its balance sheet and is deferring the upcoming payments on its funding agreements. The ratings on U.K.-based classified directories publisher hibu PLC (hibu) reflect the company's decision to suspend its upcoming payments on outstanding 2009 facility. This is in the context of ongoing negotiations for the approval of a consensual financial restructuring agreement by stakeholders involved, as the company is in the process of restructuring its...

Companies mentioned in this report are:
- hibu PLC

Action: Review

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

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