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GCI LLC Ratings On CreditWatch Positive Following Proposed Liberty Broadband Merger And Better Asset Coverage

Published Sep 14, 2020

3 pages (1637 words) — Published Sep 14, 2020

Price US$ 150.00 | Buy this Report Now

About This Report

Abstract:

U.S.-based wireless and cable provider GCI LLC's (GCI) parent, GCI Liberty Inc., announced that it entered into an agreement under which Liberty Broadband will acquire GCI Liberty in a stock-for-stock merger, representing an $8.7 billion equity value for the GCI Liberty transaction. Pro forma for the merger, Liberty Broadband will provide more asset coverage and will be able to access an incremental $24 billion in unencumbered shares of Charter Communications (Charter) with which to support GCI. This is in addition to the Charter and LendingTree (TREE) stakes currently at GCI, valued at about $4.4 billion. Despite the COVID-19 pandemic and severe recession, GCI's operating and financial results have been stronger than our expectations, mainly due to growth in the broadband

Report Type:

Ratings Action

Ticker

1625155D

Issuer

GCI, LLC

Sector

Global Issuers

Country

United States

Region

United States

Format:

PDF

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GCI LLC – 2022/07/14 – US$ 500.00

GCI LLC Senior Unsecured Rating Raised To 'B+' From 'B' On Debt Paydown; Recovery Rating Revised To '4' From '5' – 2023/03/22 – US$ 150.00

Research Update: GCI LLC Ratings On CreditWatch Positive Following Proposed Liberty Broadband Merger And Better Asset Coverage – 2020/09/14 – US$ 225.00

GCI LLC – 2020/06/10 – US$ 500.00

GCI LLC's Proposed $300 Million Unsecured Notes Rated 'B' (Recovery Rating: '2') – 2019/06/03 – US$ 150.00

Research Update: GCI LLC Downgraded To 'B-' On Weak Operating Performance; Outlook Negative; Debt Ratings Lowered – 2019/05/15 – US$ 225.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "GCI LLC Ratings On CreditWatch Positive Following Proposed Liberty Broadband Merger And Better Asset Coverage" Sep 14, 2020. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/GCI-LLC-Ratings-On-CreditWatch-Positive-Following-Proposed-Liberty-Broadband-Merger-And-Better-Asset-Coverage-2513170>

APA:	S&P Global Ratings’ Credit Research. (). GCI LLC Ratings On CreditWatch Positive Following Proposed Liberty Broadband Merger And Better Asset Coverage Sep 14, 2020. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/GCI-LLC-Ratings-On-CreditWatch-Positive-Following-Proposed-Liberty-Broadband-Merger-And-Better-Asset-Coverage-2513170>

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