Research Update: IPC Corp. Downgraded To 'B-' On Operational Performance; Outlook Negative - S&P Global Ratings’ Credit Research

Research Update: IPC Corp. Downgraded To 'B-' On Operational Performance; Outlook Negative

Research Update: IPC Corp. Downgraded To 'B-' On Operational Performance; Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: IPC Corp. Downgraded To 'B-' On Operational Performance; Outlook Negative
Published Jun 12, 2017
7 pages (2388 words) — Published Jun 12, 2017
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Global trading communication systems, compliance solutions, and network services provider IPC Corp. faces narrowing covenant headroom following weaker-than-expected operating performance and continued covenant step-downs. We are lowering our corporate credit rating on IPC to 'B-' from 'B', and removing all ratings from CreditWatch At the same time, we are lowering the issue-level rating on IPC's first-lien debt to 'B-' from 'B'. The recovery rating remains '3'. We are also lowering the issue-level rating on IPC's second-lien debt to 'CCC+' from 'B-'. The recovery rating on this debt remains '5'. The negative outlook reflects narrowing covenant headroom as modest deleveraging is offset by continued covenant step-downs. On June 12, 2017, S&P Global Ratings lowered its corporate credit rating on Jersey City,

  
Brief Excerpt:

... solutions, and network services provider IPC Corp. faces narrowing covenant headroom following weaker-than-expected operating performance and continued covenant step-downs....

  
Report Type:

Research Update

Issuer
IPC Corp.
GICS
Aluminum (15104010)
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: IPC Corp. Downgraded To 'B-' On Operational Performance; Outlook Negative" Jun 12, 2017. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-IPC-Corp-Downgraded-To-B-On-Operational-Performance-Outlook-Negative-1866509>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: IPC Corp. Downgraded To 'B-' On Operational Performance; Outlook Negative Jun 12, 2017. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-IPC-Corp-Downgraded-To-B-On-Operational-Performance-Outlook-Negative-1866509>
  
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