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Prospect News home > News index > List of issuers U > Headlines for Univision Communications Inc. > News item |
Fitch rates Univision notes B+
Fitch Ratings said it assigned a B+/RR3 rating to Univision Communications' $750 million 10-year senior secured note offering.
Univision has a B issuer default rating.
The outlook is stable.
Proceeds will be used to repay a portion of the company's $7.45 billion term loan facilities due September 2014, effectively extending $750 million of secured debt by six years.
The company will be able to delever to a range of 7x to 9x total leverage or 5x to 7x on a secured basis by the 2014 maturity, Fitch said.
Ratings incorporate Fitch's favorable outlook on the U.S. Hispanic broadcasting industry, given expectations for continued growth in size and spending power of the Hispanic demographic, the agency said.
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