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Moody's rates ViaSat notes B1
Moody's Investors Service said it assigned a B1 rating to ViaSat, Inc.'s new senior unsecured seven-year notes.
At the same time, the company was assigned Ba3 corporate family and probability of default ratings, along with an SGL-3 speculative grade liquidity rating (indicating adequate liquidity).
The outlook is stable.
Together with $125 million of new equity, the new notes will provide most of the funding for a pending transformative acquisition. With a new generation broadband satellite to be operational in 2011 (Viasat-1) and the acquisition of WildBlue Communications Inc., ViaSat will add retail distribution of internet services to its existing base as a manufacturer and seller of satellite and wireless networks and services to government and commercial customers.
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