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

Bulletin: Univision Communications Inc.'s Proposed Note Add-On Is Leverage Neutral

Bulletin: Univision Communications Inc.'s Proposed Note Add-On Is Leverage Neutral - S&P Global Ratings’ Credit Research
Bulletin: Univision Communications Inc.'s Proposed Note Add-On Is Leverage Neutral
Published Dec 04, 2023
2 pages (955 words) — Published Dec 04, 2023
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Abstract:

This report does not constitute a rating action. NEW YORK (S&P Global Ratings) Dec. 4, 2023--S&P Global Ratings today said that Univision Communication Inc. 's (B+/Stable) proposed $500 million add-on to its 8% senior secured notes due 2028 is leverage neutral. The company plans to use the proceeds from the note issuance to repay a portion of its 5.125% senior secured notes due in 2025 ($1.04 billion outstanding as of Sept. 30, 2023). Our 'B+' issue-level rating and '3' recovery rating on Univision's senior secured debt are unchanged by the proposed transaction. Univision Communications Inc. , Nov. 17, 2023 Industry Top Trends Update North America Media and Entertainment , July 18, 2023 Second-Half 2023 Media Outlook: Secular Challenges Magnified By

  
Brief Excerpt:

...December 4, 2023 This report does not constitute a rating action. NEW YORK (S&P Global Ratings) Dec. 4, 2023--S&P Global Ratings today said that Univision Communication Inc.'s (B+/Stable) proposed $500 million add-on to its 8% senior secured notes due 2028 is leverage neutral. The company plans to use the proceeds from the note issuance to repay a portion of its 5.125% senior secured notes due in 2025 ($1.04 billion outstanding as of Sept. 30, 2023). Our 'B+' issue-level rating and '3' recovery rating on Univision's senior secured debt are unchanged 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 Note Add-On Is Leverage Neutral" Dec 04, 2023. Alacra Store. May 02, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Univision-Communications-Inc-s-Proposed-Note-Add-On-Is-Leverage-Neutral-3097563>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Univision Communications Inc.'s Proposed Note Add-On Is Leverage Neutral Dec 04, 2023. 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-Note-Add-On-Is-Leverage-Neutral-3097563>
  
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