Nexstar Broadcasting Group Term Loan B-2 Rating Remains 'BB' (Recovery Rating: 1) Following Add-On - S&P Global Ratings’ Credit Research

Nexstar Broadcasting Group Term Loan B-2 Rating Remains 'BB' (Recovery Rating: 1) Following Add-On

Nexstar Broadcasting Group Term Loan B-2 Rating Remains 'BB' (Recovery Rating: 1) Following Add-On - S&P Global Ratings’ Credit Research
Nexstar Broadcasting Group Term Loan B-2 Rating Remains 'BB' (Recovery Rating: 1) Following Add-On
Published Nov 22, 2013
1246 words — Published Nov 22, 2013
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Abstract:

NEW YORK (Standard&Poor's) Nov. 22, 2013--Standard&Poor's Ratings Services said today that Irving, Texas-based TV broadcaster Nexstar Broadcasting Group Inc. has announced plans to refinance its existing term loan B due 2019 with the proceeds of a $348 million add-on to its existing term loan B-2 due 2020. Our rating on the term loan B-2 remains 'BB', with a recovery rating of '1', indicating our expectations for very high (90%-100%) recovery for debtholders in the event of a payment default. We expect to withdraw our ratings on the term loan B when the transaction closes. Our rating on Nexstar reflects our expectation that, pro forma for the pending CCA acquisition, the company will be able to keep

  
Brief Excerpt:

RESEARCH Nexstar Broadcasting Group Term Loan B-2 Rating Remains '##' (Recovery Rating: 1) Following Add-On Publication date: 22-Nov-2013 Primary Credit Analyst: Naveen Sarma, New York (1) 212-438-7833; naveen.sarma@standardandpoors.com...

  
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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MLA:
S&P Global Ratings’ Credit Research. "Nexstar Broadcasting Group Term Loan B-2 Rating Remains 'BB' (Recovery Rating: 1) Following Add-On" Nov 22, 2013. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Nexstar-Broadcasting-Group-Term-Loan-B-2-Rating-Remains-BB-Recovery-Rating-1-Following-Add-On-1220750>
  
APA:
S&P Global Ratings’ Credit Research. (). Nexstar Broadcasting Group Term Loan B-2 Rating Remains 'BB' (Recovery Rating: 1) Following Add-On Nov 22, 2013. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Nexstar-Broadcasting-Group-Term-Loan-B-2-Rating-Remains-BB-Recovery-Rating-1-Following-Add-On-1220750>
  
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