CommScope Holding Co. Inc. Downgraded To 'B+' On Weak ARRIS Results; Ratings Off CreditWatch - S&P Global Ratings’ Credit Research

CommScope Holding Co. Inc. Downgraded To 'B+' On Weak ARRIS Results; Ratings Off CreditWatch

CommScope Holding Co. Inc. Downgraded To 'B+' On Weak ARRIS Results; Ratings Off CreditWatch - S&P Global Ratings’ Credit Research
CommScope Holding Co. Inc. Downgraded To 'B+' On Weak ARRIS Results; Ratings Off CreditWatch
Published May 29, 2019
3 pages (1510 words) — Published May 29, 2019
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

On May 9, 2019, telecommunications equipment and components provider CommScope Holding Co. Inc. announced weak earnings for ARRIS International PLC and weak guidance for the combined company next quarter. We are lowering our issuer credit rating on CommScope to 'B+' from 'BB-' and removing the rating from CreditWatch. At the same time, we are lowering our issue-level ratings on CommScope's secured debt to 'BB-' from 'BB' and our ratings on its unsecured debt to 'B' from 'B+' and removing them from CreditWatch, reflecting the one-notch downgrade of the company. The stable outlook reflects our view that earnings will improve following the weak first half of 2019 as cable operators' capital spending returns to normal levels, and that management will address

  
Brief Excerpt:

...May 29, 2019 - On May 9, 2019, telecommunications equipment and components provider CommScope Holding Co. Inc. announced weak earnings for ARRIS International PLC and weak guidance for the combined company next quarter. - We are lowering our issuer credit rating on CommScope to 'B+' from '##-' and removing the rating from CreditWatch. - At the same time, we are lowering our issue-level ratings on CommScope's secured debt to '##-' from '##' and our ratings on its unsecured debt to 'B' from 'B+' and removing them from CreditWatch, reflecting the one-notch downgrade of the company. - The stable outlook reflects our view that earnings will improve following the weak first half of 2019 as cable operators' capital spending returns to normal levels, and that management will address sales execution issues and realize planned cost savings, dropping leverage below 6x in 2020. SAN FRANCISCO (S&P Global Ratings) May 29, 2019--S&P Global Ratings today took the rating actions listed above. The downgrade...

  
Report Type:

Ratings Action

Issuer
CommScope Holding Co. Inc.
GICS
Communications Equipment (45201020)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "CommScope Holding Co. Inc. Downgraded To 'B+' On Weak ARRIS Results; Ratings Off CreditWatch" May 29, 2019. Alacra Store. May 19, 2025. <http://www.alacrastore.com/s-and-p-credit-research/CommScope-Holding-Co-Inc-Downgraded-To-B-On-Weak-ARRIS-Results-Ratings-Off-CreditWatch-2240016>
  
APA:
S&P Global Ratings’ Credit Research. (). CommScope Holding Co. Inc. Downgraded To 'B+' On Weak ARRIS Results; Ratings Off CreditWatch May 29, 2019. New York, NY: Alacra Store. Retrieved May 19, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/CommScope-Holding-Co-Inc-Downgraded-To-B-On-Weak-ARRIS-Results-Ratings-Off-CreditWatch-2240016>
  
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