Moody's rates Virgin Mobile USA B2

Moody's assigned Virgin Mobile USA, LP a B2 corporate family rating, B1 probability-of-default rating, B2 senior secured rating and SGL-4 liquidity rating.

The outlook is stable.

The B2 corporate family rating reflects the company's modest scale, thin operating margins, weak liquidity profile and elevated leverage levels, Moody's said.

These risks are partially mitigated by the company's focus on faster growing industry niche segments and its highly variable cost structure, the agency said.

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