Nexstar Broadcasting Senior Unsecured Notes 'B-' Rating Unaffected By $50M Upsize - S&P Global Ratings’ Credit Research

Nexstar Broadcasting Senior Unsecured Notes 'B-' Rating Unaffected By $50M Upsize

Nexstar Broadcasting Senior Unsecured Notes 'B-' Rating Unaffected By $50M Upsize - S&P Global Ratings’ Credit Research
Nexstar Broadcasting Senior Unsecured Notes 'B-' Rating Unaffected By $50M Upsize
Published Oct 25, 2012
Published Oct 25, 2012
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Abstract:

CHICAGO (Standard&Poor's) Oct. 25, 2012--Standard&Poor's Ratings Services today said that its ratings on Irving, Texas-based Nexstar Broadcasting Group Inc. and on certain subsidiaries are unaffected by the upsizing of the recently rated senior unsecured notes. Nexstar increased the size of the notes to $250 million from the proposed amount of $200 million. Pro forma leverage remains in the low-6x area as the company will now draw less on the revolver to fund the acquisition of stations from Newport Television. The rating on the notes is 'B-' with a recovery rating of '6', indicating our expectation for negligible (0% to 10%) recovery for lenders in the event of a payment default. (For the latest complete corporate credit

  
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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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MLA:
S&P Global Ratings’ Credit Research. "Nexstar Broadcasting Senior Unsecured Notes 'B-' Rating Unaffected By $50M Upsize" Oct 25, 2012. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Nexstar-Broadcasting-Senior-Unsecured-Notes-B-Rating-Unaffected-By-50M-Upsize-1030251>
  
APA:
S&P Global Ratings’ Credit Research. (). Nexstar Broadcasting Senior Unsecured Notes 'B-' Rating Unaffected By $50M Upsize Oct 25, 2012. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Nexstar-Broadcasting-Senior-Unsecured-Notes-B-Rating-Unaffected-By-50M-Upsize-1030251>
  
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