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Prospect News home > News index > List of issuers V > Headlines for Virgin Media Inc. > News item
Published on 3/17/2010 in the Prospect News Bank Loan Daily, Prospect News Convertibles Daily and Prospect News High Yield Daily.

S&P rates Virgin Media loans BB

Standard & Poor's said it assigned a BB debt rating and 1 recovery rating to the proposed £2 billion senior secured facilities of Virgin Media Investment Holdings Ltd. (not rated) and other subsidiaries of Virgin Media Inc. (B+/stable/).

The facilities consist of a £1 billion amortizing term loan A, up to £750 million of term loan B and a £250 million revolving credit facility.

Proceeds will be used to repay the issuer's outstanding secured bank facilities maturing in 2012 through 2013.


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