S&P rates Univision notes B

Standard & Poor's said it assigned Univision Communications Inc.'s $750 million of 7 7/8% senior secured notes due 2018 a rating of B with a recovery rating of 3, indicating expectation of 50% to 70% recovery.

The B- corporate credit rating remains on CreditWatch with positive implications.

Proceeds will be used to pay down senior secured term debt.

"Upon successful completion of the amendment and extension transaction, we expect to raise our corporate credit rating on Univision to B with a stable outlook," S&P analyst Michael Altberg said in a statement.

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