S&P: Univision view to positive

Standard & Poor's said it revised its rating outlook on Univision Communications Inc. to positive from stable and affirmed its B corporate credit rating on the company.

The B+ issue-level rating and 2 recovery rating on the company's senior secured notes remain unchanged. The 2 recovery rating indicates an expectation for substantial recovery (70%-90%; lower half of the range) of principal in the event of a payment default.

The CCC+ issue-level and 6 recovery ratings on the senior unsecured notes also remain unchanged. The 6 recovery rating indicates our expectation for negligible recovery (0%-10%) of principal in the event of a payment default.

"The positive rating outlook reflects our expectation that Univision's leverage will continue to moderate as a result of debt repayment and EBITDA growth related to higher retransmission and political advertising revenue in 2016," S&P credit analyst Jeanne Shoesmith said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.