Univision Communications Inc.'s Proposed Senior Secured Notes Due 2028 Rated 'B+' (Recovery Rating: '3') - S&P Global Ratings’ Credit Research

Univision Communications Inc.'s Proposed Senior Secured Notes Due 2028 Rated 'B+' (Recovery Rating: '3')

Univision Communications Inc.'s Proposed Senior Secured Notes Due 2028 Rated 'B+' (Recovery Rating: '3') - S&P Global Ratings’ Credit Research
Univision Communications Inc.'s Proposed Senior Secured Notes Due 2028 Rated 'B+' (Recovery Rating: '3')
Published Jul 24, 2023
3 pages (1203 words) — Published Jul 24, 2023
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About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) July 24, 2023--S&P Global Ratings today assigned its 'B+' issue-level rating and '3' recovery rating to Univision Communications Inc.'s proposed $500 million senior secured notes due 2028. The '3' recovery rating indicates our expectation of meaningful (50%-70%; rounded estimate: 65%) recovery for lenders in the event of a payment default. The company plans to use the proceeds from these notes to repay the approximately $261 million outstanding on its term loan maturing in 2024 and a portion of its 5.125% senior secured notes due in 2025 ($1.5 billion outstanding). Our 'B+' issuer credit rating and stable outlook on Univision remain unchanged because the proposed transaction will not affect its net leverage. General Criteria: Environmental, Social,

  
Brief Excerpt:

...Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such...

  
Report Type:

Ratings Action

Ticker
UVN
Issuer
Univision Communications Inc.
Sector
Global Issuers
Country
United States
Region
United States
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Univision Communications Inc.'s Proposed Senior Secured Notes Due 2028 Rated 'B+' (Recovery Rating: '3')" Jul 24, 2023. Alacra Store. May 02, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Univision-Communications-Inc-s-Proposed-Senior-Secured-Notes-Due-2028-Rated-B-Recovery-Rating-3-3024019>
  
APA:
S&P Global Ratings’ Credit Research. (). Univision Communications Inc.'s Proposed Senior Secured Notes Due 2028 Rated 'B+' (Recovery Rating: '3') Jul 24, 2023. New York, NY: Alacra Store. Retrieved May 02, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/Univision-Communications-Inc-s-Proposed-Senior-Secured-Notes-Due-2028-Rated-B-Recovery-Rating-3-3024019>
  
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