Bulletin: Univision Communications Inc.'s Proposed $240.7 Million Senior Secured Note Add-On Is Leverage Neutral - S&P Global Ratings’ Credit Research

Bulletin: Univision Communications Inc.'s Proposed $240.7 Million Senior Secured Note Add-On Is Leverage Neutral

Bulletin: Univision Communications Inc.'s Proposed $240.7 Million Senior Secured Note Add-On Is Leverage Neutral - S&P Global Ratings’ Credit Research
Bulletin: Univision Communications Inc.'s Proposed $240.7 Million Senior Secured Note Add-On Is Leverage Neutral
Published Jan 18, 2024
2 pages (971 words) — Published Jan 18, 2024
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Abstract:

This report does not constitute a rating action. NEW YORK (S&P Global Ratings) Jan. 18, 2024--S&P Global Ratings today said that Univision Communications Inc.'s (B+/Stable/--) proposed $240.7 million add-on to its 8% senior secured notes due 2028 is leverage neutral. The company plans to use the proceeds from this issuance, along with cash on hand, to repay the remaining $240.7 million balance on its 5.125% senior secured notes due 2025. Our 'B+' issue-level rating and '3' recovery rating on Univision's senior secured debt are unaffected by the proposed transaction. Industry Credit Outlook 2024: Media and Entertainment , Jan. 9, 2024 U.S. Advertising Forecast Powered By Digital , Jan. 2, 2024 Univision Communications Inc.'s Proposed Note Add-On Is Leverage Neutral ,

  
Brief Excerpt:

...January 18, 2024 This report does not constitute a rating action. NEW YORK (S&P Global Ratings) Jan. 18, 2024--S&P Global Ratings today said that Univision Communications Inc.'s (B+/Stable/--) proposed $240.7 million add-on to its 8% senior secured notes due 2028 is leverage neutral. The company plans to use the proceeds from this issuance, along with cash on hand, to repay the remaining $240.7 million balance on its 5.125% senior secured notes due 2025. Our 'B+' issue-level rating and '3' recovery rating on Univision's senior secured debt are unaffected by the proposed transaction....

  
Report Type:

Bulletin

Ticker
UVN
Issuer
Univision Communications Inc.
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Univision Communications Inc.'s Proposed $240.7 Million Senior Secured Note Add-On Is Leverage Neutral" Jan 18, 2024. Alacra Store. May 02, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Univision-Communications-Inc-s-Proposed-240-7-Million-Senior-Secured-Note-Add-On-Is-Leverage-Neutral-3113433>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Univision Communications Inc.'s Proposed $240.7 Million Senior Secured Note Add-On Is Leverage Neutral Jan 18, 2024. New York, NY: Alacra Store. Retrieved May 02, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Univision-Communications-Inc-s-Proposed-240-7-Million-Senior-Secured-Note-Add-On-Is-Leverage-Neutral-3113433>
  
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