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Prospect News home > News index > List of issuers U > Headlines for Univision Communications Inc. > News item |
S&P rates Univision notes CCC+
Standard & Poor's said it assigned a CCC+ rating to Univision Communications Inc.'s (B/stable) proposed issuance of $500 million unsecured notes due 2021 with a recovery rating of 6, indicating expectation of 0% to 10% recovery.
Proceeds will be used to repay up to $460 million of the company's 9.75%/10.5% senior unsecured toggle notes due 2015 in its tender offer.
Total ratio of lease-adjusted debt to adjusted EBITDA was about 12.6x for the 12 months ended Sept. 30.
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