S&P affirms Technicolor

S&P said it affirmed its BB- long-term and B short-term corporate credit ratings on Technicolor SA.

The outlook is stable.

At the same time, S&P affirmed its BB- issue rating on Technicolor's senior secured debt. The recovery rating remains at 3, indicating an expectation of meaningful recovery (50%-70%; rounded estimate: 55%) in the event of default.

“The affirmation reflects that we continue to forecast that Technicolor will post flat to low-single-digit revenue growth in 2017-2018, alongside a strong improvement in profitability in 2018, following slightly lower-than-expected EBITDA in 2016 and temporary deterioration of both EBITDA and cash flow generation in 2017,” S&P 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.