Home Credit Ratings and Research S&P Global Ratings’ Credit Research Blockbuster Inc.

Blockbuster Inc. 'B-' Corporate Credit Rating On Watch Negative Because Of Refinancing Concerns

Published Mar 04, 2009

539 words — Published Mar 04, 2009

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Abstract:

NEW YORK (Standard&Poor's) March 4, 2009--Standard&Poor's Ratings Services said today it placed its ratings, including the 'B-' corporate credit rating, on Dallas-based Blockbuster Inc. on CreditWatch with negative implications. This action reflects our concern regarding the company's ability to refinance the August 2009 maturity of its revolving credit and term loan A facilities. "If the company is unable to extend or refinance its revolving credit facility, its liquidity could be greatly diminished by a reduction of borrowing capacity of $300 million," said Standard&Poor's credit analyst David Kuntz. Pro forma for the reduction in the face value of the letter of credit required to be provided by Blockbuster for the benefit of Viacom by $75

Brief Excerpt:

RESEARCH Blockbuster Inc. 'B-' Corporate Credit Rating On Watch Negative Because Of Refinancing Concerns Publication date: 04-Mar-2009 Primary Credit Analyst: David M Kuntz, New York (1) 212-438-5022; david_m_kuntz@standardandpoors.com...

Report Type:

Ratings Action

Ticker

BBI

Issuer

Blockbuster Inc.

GICS

Specialty Stores (25504040)

Sector

Global Issuers

Country

United States

Region

United States

Format:

HTML

Blockbuster Inc. Downgraded To 'CCC' On Liquidity Concerns – 2009/04/13 – US$ 150.00

Research Update: Blockbuster Inc. Corporate Credit Rating Lowered To 'CCC' Over Liquidity Concerns – 2009/04/13 – US$ 225.00

Blockbuster Inc. – 2009/04/30 – US$ 500.00

Summary: Blockbuster Inc. – 2009/04/30 – US$ 225.00

Blockbuster Inc. Upgraded To 'B-' From 'CCC'; Outlook Stable – 2009/09/16 – US$ 150.00

Research Update: Blockbuster Inc. 'B-' Corporate Credit Rating Placed On CreditWatch Neg On Refinancing Concerns – 2009/03/04 – US$ 225.00

Summary: Blockbuster Inc. – 2009/02/25 – US$ 225.00

Summary: Blockbuster Inc. – 2008/08/27 – US$ 225.00

Blockbuster Inc. – 2008/08/26 – US$ 500.00

Blockbuster Inc. 'B-' Corporate Credit Rating Affirmed; Outlook Revised To Stable – 2008/08/26 – US$ 150.00

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MLA:	S&P Global Ratings’ Credit Research. "Blockbuster Inc. 'B-' Corporate Credit Rating On Watch Negative Because Of Refinancing Concerns" Mar 04, 2009. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Blockbuster-Inc-B-Corporate-Credit-Rating-On-Watch-Negative-Because-Of-Refinancing-Concerns-706683>

APA:	S&P Global Ratings’ Credit Research. (). Blockbuster Inc. 'B-' Corporate Credit Rating On Watch Negative Because Of Refinancing Concerns Mar 04, 2009. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Blockbuster-Inc-B-Corporate-Credit-Rating-On-Watch-Negative-Because-Of-Refinancing-Concerns-706683>

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