NEW YORK (S&P Global Ratings) June 7, 2022--S&P Global Ratings today assigned its 'B+' issue-level rating and '3' recovery rating to Univision Communications Inc.'s proposed $1.5 billion senior secured debt issuance, which includes a $500 million term loan A due 2027, a $500 million term loan B due 2029, and $500 million of notes due 2030. The '3' recovery rating indicates our expectation for meaningful (50%-70%; rounded estimate: 60%) recovery for lenders in the event of a payment default. The company plans to use the proceeds from the term loan to refinance existing senior secured debt. At the same time, the company is extending the maturity of its existing revolving credit facility to 2027. Our 'B+' issuer credit rating and
