S&P upgrades Rovi to BB

Standard & Poor's said it raised its issue-level rating on Rovi Corp.'s senior secured term loan B to BB from BB- and revised the recovery rating to 1 from 2.

The 1 recovery rating indicates an expectation for very high recovery (90%-100%) of principal in the event of a payment default.

The actions follow a review of S&P’s recovery assumptions on Rovi. Rovi's $700 million term loan B due 2021 is the only senior secured debt in the capital structure because the company repaid its $125 million term loan A and terminated its $175 million revolving credit facility.

Rovi’s other ratings remain unchanged, including the B+ corporate

credit rating.

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