Blockbuster Inc. Ratings Lowered To 'CC' From 'CCC', Outlook  Negative - S&P Credit Research

Blockbuster Inc. Ratings Lowered To 'CC' From 'CCC', Outlook Negative

1123 words — Published Mar 18, 2010
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Abstract:

Given the statements in Blockbuster's Form 10-K filing, there is substantial doubt about the company's ability to continue as a going concern and that the company may have to file for bankruptcy protection or may complete a distressed debt exchange or modify terms of its secured notes issue. We are lowering our rating on the company to 'CC' from 'CCC'. Our '3' recovery rating on the company's senior secured debt and '6' recovery rating on the company's subordinated debt remain unchanged. The negative outlook reflects our view that the company is highly vulnerable to default and that performance will be severely challenged in the near term. NEW YORK (Standard&Poor's) March 18, 2010--Standard&Poor's Ratings Services lowered its

  
Brief Excerpt:

RESEARCH Ratings Definitions Blockbuster Inc. Ratings Lowered To '##' From '###', Outlook Negative Publication date: 18-Mar-2010 Primary Credit Analyst: Jayne M Ross, New York (1) 212-438-7857; jayne_ross@standardandpoors.com Secondary...

  
Report Type:

Ratings Action

Ticker
BBI
Issuer
Blockbuster Inc.
GICS
Specialty Stores (25504040)
Sector
Global Issuers
Country
Region
Format:
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MLA:
S&P Credit Research. "Blockbuster Inc. Ratings Lowered To 'CC' From 'CCC', Outlook Negative" Mar 18, 2010. Alacra Store. Jul 28, 2014. <http://www.alacrastore.com/s-and-p-credit-research/Blockbuster-Inc-Ratings-Lowered-To-CC-From-CCC-Outlook-Negative-783033>
  
APA:
S&P Credit Research. (). Blockbuster Inc. Ratings Lowered To 'CC' From 'CCC', Outlook Negative Mar 18, 2010. New York, NY: Alacra Store. Retrieved Jul 28, 2014 from <http://www.alacrastore.com/s-and-p-credit-research/Blockbuster-Inc-Ratings-Lowered-To-CC-From-CCC-Outlook-Negative-783033>
  
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