S&P puts Viasat on watch

S&P said it placed all its ratings on Viasat Inc., including the BB- issuer credit rating, on CreditWatch with negative implications following a “satellite anomaly.”

Viasat management plans to provide a more detailed update on the status of the Viasat-3 F-1 satellite anomaly and related contingency plans in November 2023.

“We plan to resolve the CreditWatch shortly after the company's third-quarter earnings call in November 2023 and could lower ratings if the magnitude of projected cash generation beyond 2025 is weaker than our initial expectations, or if the timing is significantly delayed,” S&P said in a news release.

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