Research Update: Liberty Media Corp. Ratings Placed On CreditWatch Negative As Company To Issue Tracking Stock - S&P Global Ratings’ Credit Research

Research Update: Liberty Media Corp. Ratings Placed On CreditWatch Negative As Company To Issue Tracking Stock

Research Update: Liberty Media Corp. Ratings Placed On CreditWatch Negative As Company To Issue Tracking Stock - S&P Global Ratings’ Credit Research
Research Update: Liberty Media Corp. Ratings Placed On CreditWatch Negative As Company To Issue Tracking Stock
Published Nov 10, 2005
Published Nov 10, 2005
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On Nov. 10, 2005, Standard&Poor's Ratings Services placed its ratings on Liberty Media Corp., including the 'BB+' corporate credit rating, on CreditWatch with negative implications. The CreditWatch placement follows the company's announcement that it will issue a tracking stock that will track the performance of QVC Inc. together with Liberty's minority stakes in IAC/InterActiveCorp and Expedia Inc. A tracking company will be established to mirror the performance of these assets. A portion of Liberty's debt will be allocated to the tracking company such that the relationship of debt to EBITDA is in the 3x-5x area. It is expected that the tracking company will ultimately be spun off to shareholders. The remaining debt at Liberty will be supported by

  
Report Type:

Research Update

Ticker
733237Z
Issuer
Liberty Interactive Corp.
GICS
Broadcasting & Cable TV (25401020)
Sector
Global Issuers, Structured Finance
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. "Research Update: Liberty Media Corp. Ratings Placed On CreditWatch Negative As Company To Issue Tracking Stock" Nov 10, 2005. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Liberty-Media-Corp-Ratings-Placed-On-CreditWatch-Negative-As-Company-To-Issue-Tracking-Stock-474139>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Liberty Media Corp. Ratings Placed On CreditWatch Negative As Company To Issue Tracking Stock Nov 10, 2005. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Liberty-Media-Corp-Ratings-Placed-On-CreditWatch-Negative-As-Company-To-Issue-Tracking-Stock-474139>
  
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