S&P: Telecommunications unchanged after add-on

Standard & Poor's said Telecommunications Management LLC's proposed $55 million add-on to its first-lien term loan does not affect the BB- rating and 2 recovery rating on the company's first-lien credit facilities.

The B+ corporate credit rating, stable outlook and all other ratings also remain unchanged.

The proceeds will be used from the credit facilities to fund future acquisitions and leveraged is not expected to materially change from the 6.5x anticipated by the end of 2013, S&P said.

The B+ corporate credit rating already incorporated potential acquisitions, the agency said.

However, the rating does not assume any meaningful increase in leverage as a result of any such acquisitions, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.