Home Credit Ratings and Research S&P Global Ratings’ Credit Research U.S. TelePacific Holdings Corp.

U.S. TelePacific Holdings Corp. Senior Secured Debt Rated 'CCC+'; 'CCC+' Corporate Credit Rating On Watch Positive

Published Jan 26, 2010

About This Report

Abstract:

We are placing our 'CCC+' corporate credit rating on CLEC TelePacific on CreditWatch Positive. We are assigning a 'CCC+' issue-level rating and a '5' recovery rating to the company's proposed $25 million senior secured revolver and $360 million term loan. NEW YORK (Standard&Poor's) Jan. 26, 2010--Standard&Poor's Ratings Services said today it placed its 'CCC+' corporate credit rating on Los Angeles-based competitive local exchange carrier (CLEC) U.S. TelePacific Holdings Corp. (TelePacific) on CreditWatch with positive implications. We also assigned a 'CCC+' issue-level rating and a '5' recovery rating to the company's proposed $25 million senior secured revolver and $360 million term loan due 2015. Net proceeds of $360 million will be used to repay its existing $322

Report Type:

Ratings Action

Issuer

U.S. TelePacific Holdings Corp.

GICS

Internet Software & Services (45101010)

Sector

Global Issuers

Country

United States

Region

United States

Format:

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U.S. TelePacific Holdings Corp. Upgraded To 'B-' On Improved Covenant Cushion; Outlook Stable – 2010/02/18 – US$ 150.00

Research Update: U.S. TelePacific Holdings Corp. Corporate Credit Rating Raised To 'B-' On Improved Covenant Cushion; Outlook Stable – 2010/02/18 – US$ 225.00

Summary: U.S. TelePacific Holdings Corp. – 2010/08/30 – US$ 225.00

U.S. TelePacific's $460M Credit Facilities Rated 'B-' (Recovery Rating: 4) – 2011/02/15 – US$ 150.00

Research Update: U.S. TelePacific's $460M Credit Facilities Rated 'B-' (Recovery Rating: 4) – 2011/02/15 – US$ 225.00

Research Update: U.S. TelePacific Holdings Corp. 'CCC+' Corporate Credit Rating On Watch Positive; Senior Secured Debt Rated 'CCC+' – 2010/01/26 – US$ 225.00

Summary: U.S. TelePacific Holdings Corp. – 2009/08/14 – US$ 225.00

U.S. TelePacific Holdings Corp. Downgraded To 'CCC+' On Covenant Compliance Concerns – 2009/01/14 – US$ 150.00

Research Update: U.S. TelePacific Holdings Corporate Credit Rating Cut To 'CCC+' On Covenant Compliance Concerns – 2009/01/14 – US$ 225.00

Summary: U.S. TelePacific Holdings Corp. – 2008/07/14 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "U.S. TelePacific Holdings Corp. Senior Secured Debt Rated 'CCC+'; 'CCC+' Corporate Credit Rating On Watch Positive" Jan 26, 2010. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/U-S-TelePacific-Holdings-Corp-Senior-Secured-Debt-Rated-CCC-CCC-Corporate-Credit-Rating-On-Watch-Positive-771174>

APA:	S&P Global Ratings’ Credit Research. (). U.S. TelePacific Holdings Corp. Senior Secured Debt Rated 'CCC+'; 'CCC+' Corporate Credit Rating On Watch Positive Jan 26, 2010. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/U-S-TelePacific-Holdings-Corp-Senior-Secured-Debt-Rated-CCC-CCC-Corporate-Credit-Rating-On-Watch-Positive-771174>

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