Research Update: CommScope Holding Co. Inc. Downgraded To 'B+' On Weak ARRIS Results; Ratings Off CreditWatch - S&P Global Ratings’ Credit Research

Research Update: CommScope Holding Co. Inc. Downgraded To 'B+' On Weak ARRIS Results; Ratings Off CreditWatch

Research Update: CommScope Holding Co. Inc. Downgraded To 'B+' On Weak ARRIS Results; Ratings Off CreditWatch - S&P Global Ratings’ Credit Research
Research Update: CommScope Holding Co. Inc. Downgraded To 'B+' On Weak ARRIS Results; Ratings Off CreditWatch
Published May 29, 2019
5 pages (1861 words) — Published May 29, 2019
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On May 9, 2019, telecommunications equipment and components provider CommScope Holding Co. Inc. announced weak earnings for ARRIS International PLC and weak guidance for the combined company next quarter. We are lowering our issuer credit rating on CommScope to 'B+' from 'BB-' and removing the rating from CreditWatch. At the same time, we are lowering our issue-level ratings on CommScope's secured debt to 'BB-' from 'BB' and our ratings on its unsecured debt to 'B' from 'B+' and removing them from CreditWatch, reflecting the one-notch downgrade of the company. The stable outlook reflects our view that earnings will improve following the weak first half of 2019 as cable operators' capital spending returns to normal levels, and that management will address

  
Brief Excerpt:

...- On May 9, 2019, telecommunications equipment and components provider CommScope Holding Co. Inc. announced weak earnings for ARRIS International PLC and weak guidance for the combined company next quarter. - We are lowering our issuer credit rating on CommScope to 'B+' from '##-' and removing the rating from CreditWatch. - At the same time, we are lowering our issue-level ratings on CommScope's secured debt to '##-' from '##' and our ratings on its unsecured debt to 'B' from 'B+' and removing them from CreditWatch, reflecting the one-notch downgrade of the company. - The stable outlook reflects our view that earnings will improve following the weak first half of 2019 as cable operators' capital spending returns to normal levels, and that management will address sales execution issues and realize planned cost savings, dropping leverage below 6x in 2020....

  
Report Type:

Research Update

Issuer
CommScope Holding Co. Inc.
GICS
Communications Equipment (45201020)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: CommScope Holding Co. Inc. Downgraded To 'B+' On Weak ARRIS Results; Ratings Off CreditWatch" May 29, 2019. Alacra Store. May 20, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-CommScope-Holding-Co-Inc-Downgraded-To-B-On-Weak-ARRIS-Results-Ratings-Off-CreditWatch-2240017>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: CommScope Holding Co. Inc. Downgraded To 'B+' On Weak ARRIS Results; Ratings Off CreditWatch May 29, 2019. New York, NY: Alacra Store. Retrieved May 20, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-CommScope-Holding-Co-Inc-Downgraded-To-B-On-Weak-ARRIS-Results-Ratings-Off-CreditWatch-2240017>
  
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