S&P puts Inmarsat on watch

S&P said it placed its BB+ long-term issuer credit ratings on Inmarsat plc, as well as on Inmarsat's subsidiaries Inmarsat Ventures Ltd., Inmarsat Investments Ltd. and Inmarsat Holdings Ltd. on CreditWatch with negative implications.

S&P also placed the issue rating on the group's senior unsecured debt, which was issued by Inmarsat Finance plc and guaranteed by Inmarsat Group Ltd., on CreditWatch with negative implications.

“The CreditWatch placement follows the start of our sector review on European global satellite operators, based on our view of weakening industry fundamentals and new-technology-driven oversupply risks that may hamper Inmarsat's non-maritime activities,” S&P said in a news release.

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