GCI LLC Term Loans Rated 'BB+' (Recovery: '1'); Unsecured Debt Rating Lowered To 'B+' And Placed On CreditWatch Negative - S&P Global Ratings’ Credit Research

GCI LLC Term Loans Rated 'BB+' (Recovery: '1'); Unsecured Debt Rating Lowered To 'B+' And Placed On CreditWatch Negative

GCI LLC Term Loans Rated 'BB+' (Recovery: '1'); Unsecured Debt Rating Lowered To 'B+' And Placed On CreditWatch Negative - S&P Global Ratings’ Credit Research
GCI LLC Term Loans Rated 'BB+' (Recovery: '1'); Unsecured Debt Rating Lowered To 'B+' And Placed On CreditWatch Negative
Published Jul 01, 2026
3 pages (1574 words) — Published Jul 01, 2026
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (S&P Global Ratings) July 1, 2026--S&P Global Ratings today assigned its ?BB+? issue-level rating and ?1? recovery rating to Alaska-based diversified telecommunications provider GCI LLC ?s $155 million delayed-draw term loan A-1 due in 2031 and $300 million term loan A-2 due in 2031. The ?1? recovery rating indicates our expectation of very high (90%-100%; rounded estimate: 95%) recovery in the event of a payment default. The delayed-draw term loan A-1 will fund a portion of the acquisition of Quintillion (a fiber connectivity provider in Alaska) or to repay related debt. Proceeds from the term loan A-2 will be used for general corporate purposes, including repayment of GCI debt. We subsequently lowered our issue-level ratings on the company?s

  
Brief Excerpt:

...July 1, 2026 NEW YORK (S&P Global Ratings) July 1, 2026--S&P Global Ratings today assigned its `##+' issue- level rating and `1' recovery rating to Alaska-based diversified telecommunications provider GCI LLC's $155 million delayed-draw term loan A-1 due in 2031 and $300 million term loan A-2 due in 2031. The `1' recovery rating indicates our expectation of very high (90%-100%; rounded estimate: 95%) recovery in the event of a payment default. The delayed-draw term loan A-1 will fund a portion of the acquisition of Quintillion (a fiber connectivity provider in Alaska) or to repay related debt. Proceeds from the term loan A-2 will be used for general corporate purposes, including repayment of GCI debt. We subsequently lowered our issue-level ratings on the company's unsecured debt to `B+' from `##-' and revised our recovery rating to `5' from `4', reflecting lower recovery prospects for unsecured lenders on higher secured debt balances despite raising our default valuation of GCI. At the...

  
Report Type:

Ratings Action

Ticker
1625155D
Issuer
GCI LLC
Sector
Global Issuers
Country
United States
Region
United States
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. "GCI LLC Term Loans Rated 'BB+' (Recovery: '1'); Unsecured Debt Rating Lowered To 'B+' And Placed On CreditWatch Negative" Jul 01, 2026. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/GCI-LLC-Term-Loans-Rated-BB-Recovery-1-Unsecured-Debt-Rating-Lowered-To-B-And-Placed-On-CreditWatch-Negative-3589036>
  
APA:
S&P Global Ratings’ Credit Research. (). GCI LLC Term Loans Rated 'BB+' (Recovery: '1'); Unsecured Debt Rating Lowered To 'B+' And Placed On CreditWatch Negative Jul 01, 2026. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/GCI-LLC-Term-Loans-Rated-BB-Recovery-1-Unsecured-Debt-Rating-Lowered-To-B-And-Placed-On-CreditWatch-Negative-3589036>
  
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