| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for Tech 6 > News item |
S&P ups Technicolor
S&P said it raised ratings on Technicolor SA to CCC+ from SD, its €457 million bullet facility issued by Tech 6 and Technicolor USA Inc. to B from CCC and Technicolor's €572 million reinstated term loan to CCC from D.
“Following its financial restructuring, Technicolor's liquidity metrics have significantly improved and its debt is lower. Technicolor now benefits from a favorable liquidity position, with sources of cash exceeding uses by significantly more than 1.5x in the next 12 months,” S&P said in a press release.
The agency said it forecasts Technicolor’s liquidity as of Sept. 30 will include about €200 million of cash, the undrawn Wells Fargo facility of about €110 million and positive cash funds from operations (FFO) of about €80 million.
The outlook is stable.
© 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.