Nexstar Rating Lifted To 'B-' From 'SD'; Other Actions Taken On Debt Issues - S&P Global Ratings’ Credit Research

Nexstar Rating Lifted To 'B-' From 'SD'; Other Actions Taken On Debt Issues

Nexstar Rating Lifted To 'B-' From 'SD'; Other Actions Taken On Debt Issues - S&P Global Ratings’ Credit Research
Nexstar Rating Lifted To 'B-' From 'SD'; Other Actions Taken On Debt Issues
Published Apr 03, 2009
Published Apr 03, 2009
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About This Report

  
Abstract:

NEW YORK (Standard&Poor's) April 3, 2009--Standard&Poor's Ratings Services today raised its corporate credit rating on Irving, Texas-based Nexstar Broadcasting Group Inc. and related entities to 'B-' from 'SD' (selective default). The rating outlook is stable. At the same time, we raised our issue-level rating on Nexstar Broadcasting Inc.'s 7% senior subordinated notes due 2014 to 'CCC' (two notches lower than the 'B-' corporate credit rating) from 'D'. The recovery rating on this debt remains at '6', indicating our expectation of negligible (0% to 10%) recovery for debtholders in the event of a payment default. In addition, we revised our recovery rating on the senior secured debt of Nexstar Broadcasting Inc. and Mission Broadcasting to '2', indicating

  
Report Type:

Ratings Action

Ticker
NXST
Issuer
Nexstar Broadcasting Group Inc.
GICS
Broadcasting & Cable TV (25401020)
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. "Nexstar Rating Lifted To 'B-' From 'SD'; Other Actions Taken On Debt Issues" Apr 03, 2009. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Nexstar-Rating-Lifted-To-B-From-SD-Other-Actions-Taken-On-Debt-Issues-713973>
  
APA:
S&P Global Ratings’ Credit Research. (). Nexstar Rating Lifted To 'B-' From 'SD'; Other Actions Taken On Debt Issues Apr 03, 2009. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Nexstar-Rating-Lifted-To-B-From-SD-Other-Actions-Taken-On-Debt-Issues-713973>
  
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