Nexstar Broadcasting Group Inc. Outlook Revised To Positive On Improved Leverage; 'B+' Rating Affirmed; New Debt Rated - S&P Global Ratings’ Credit Research

Nexstar Broadcasting Group Inc. Outlook Revised To Positive On Improved Leverage; 'B+' Rating Affirmed; New Debt Rated

Nexstar Broadcasting Group Inc. Outlook Revised To Positive On Improved Leverage; 'B+' Rating Affirmed; New Debt Rated - S&P Global Ratings’ Credit Research
Nexstar Broadcasting Group Inc. Outlook Revised To Positive On Improved Leverage; 'B+' Rating Affirmed; New Debt Rated
Published Jan 21, 2015
4 pages (1448 words) — Published Jan 21, 2015
Price US$ 150.00  |  Buy this Report Now

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Abstract:

U.S. TV broadcaster Nexstar Broadcasting Group Inc. plans to issue $250 million senior unsecured notes due 2022. The company will use the proceeds to fund its pending acquisition of three TV stations for $217 million and for general corporate purposes. We are revising our rating outlook on Nexstar to positive from stable and are affirming our 'B+' corporate credit rating on the company. The 'BB' issue-level and '1' recovery ratings on the company's senior secured debt remains unchanged. We are also assigning our 'B+' issue-level and '4' recovery ratings to the company's proposed $250 million senior unsecured notes due 2022 and are revising our issue-level recovery and ratings on the senior unsecured notes due 2020 to '4' from '5' and

  
Brief Excerpt:

...+ U.S. TV broadcaster Nexstar Broadcasting Group Inc. plans to issue $250 million senior unsecured notes due 2022. The company will use the proceeds to fund its pending acquisition of three TV stations for $217 million and for general corporate purposes. + We are revising our rating outlook on Nexstar to positive from stable and are affirming our 'B+' corporate credit rating on the company. The '##' issue-level and '1' recovery ratings on the company's senior secured debt remains unchanged. + We are also assigning our 'B+' issue-level and '4' recovery ratings to the company's proposed $250 million senior unsecured notes due 2022 and are revising our issue-level recovery and ratings on the senior unsecured notes due 2020 to '4' from '5' and to 'B+' from 'B', respectively. + The positive outlook reflects our view that Nexstar's leverage will moderate and improve to about 5x over the next 12-18 months. CHICAGO (Standard & Poor's) Jan. 21, 2015--Standard & Poor's Ratings Services said today...

  
Report Type:

Ratings Action

Ticker
NXST
Issuer
Nexstar Media Group 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. "Nexstar Broadcasting Group Inc. Outlook Revised To Positive On Improved Leverage; 'B+' Rating Affirmed; New Debt Rated" Jan 21, 2015. Alacra Store. Nov 06, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Nexstar-Broadcasting-Group-Inc-Outlook-Revised-To-Positive-On-Improved-Leverage-B-Rating-Affirmed-New-Debt-Rated-1380124>
  
APA:
S&P Global Ratings’ Credit Research. (). Nexstar Broadcasting Group Inc. Outlook Revised To Positive On Improved Leverage; 'B+' Rating Affirmed; New Debt Rated Jan 21, 2015. New York, NY: Alacra Store. Retrieved Nov 06, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Nexstar-Broadcasting-Group-Inc-Outlook-Revised-To-Positive-On-Improved-Leverage-B-Rating-Affirmed-New-Debt-Rated-1380124>
  
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