Bulletin: Virgin Media Ratings Unaffected For Now By Proposed Amendments To Senior Credit Facilities - S&P Global Ratings’ Credit Research

Bulletin: Virgin Media Ratings Unaffected For Now By Proposed Amendments To Senior Credit Facilities

Bulletin: Virgin Media Ratings Unaffected For Now By Proposed Amendments To Senior Credit Facilities - S&P Global Ratings’ Credit Research
Bulletin: Virgin Media Ratings Unaffected For Now By Proposed Amendments To Senior Credit Facilities
Published Oct 14, 2008
493 words — Published Oct 14, 2008
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Abstract:

LONDON (Standard&Poor's) Oct. 14, 2008--Standard&Poor's Ratings Services said today that its ratings and outlook on U.K.-based telecommunications provider Virgin Media Inc. (VMI) and related entities (B+/Positive/--) are unchanged by the company's announcement that it has requested various amendments to the senior facilities agreement. The proposed amendments would, among other things, enable VMI to defer the three remaining amortization payments and the final maturity date under the A tranches and the final maturity date of the revolving facilities until June 2012, to issue additional high yield debt to repay the senior facilities, and to reset interest coverage and leverage ratios. Standard&Poor's recognizes that such actions, if executed, would postpone material repayments until 2012 and reduce

  
Brief Excerpt:

RESEARCH Bulletin: Virgin Media Ratings Unaffected For Now By Proposed Amendments To Senior Credit Facilities Publication date: 14-Oct-2008 Primary Credit Analyst: Raam Ratnam, London (44) 207-176-7066; raam_ratnam@standardandpoors.com...

  
Report Type:

Bulletin

Ticker
VMED
Issuer
Sector
Global Issuers, Structured Finance
Country
Region
Europe, Middle East, Africa
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Virgin Media Ratings Unaffected For Now By Proposed Amendments To Senior Credit Facilities" Oct 14, 2008. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Virgin-Media-Ratings-Unaffected-For-Now-By-Proposed-Amendments-To-Senior-Credit-Facilities-676702>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Virgin Media Ratings Unaffected For Now By Proposed Amendments To Senior Credit Facilities Oct 14, 2008. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Virgin-Media-Ratings-Unaffected-For-Now-By-Proposed-Amendments-To-Senior-Credit-Facilities-676702>
  
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