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ViaSat Inc.'s Proposed Senior Unsecured Notes Rated 'BB-' (Recovery Rating: '4')

Published Sep 05, 2017

3 pages (1180 words) — Published Sep 05, 2017

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Abstract:

NEW YORK (S&P Global Ratings) Sept. 5, 2017--S&P Global Ratings today assigned its 'BB-' issue-level rating and '4' recovery rating to Carlsbad, Calif.-based satellite services and equipment provider ViaSat Inc.'s proposed $600 million senior unsecured notes due 2025. The company plans to use the proceeds from the notes issuance to repay its $575 million 6.875% senior unsecured notes due 2020. The '4' recovery rating indicates our expectation for average (30%-50%; rounded estimate: 45%) recovery for lenders in the event of a payment default. We will withdraw the ratings on ViaSat's existing notes when they have been redeemed. The 'BB-' corporate credit rating and stable outlook on ViaSat remain unchanged. For the full corporate credit rating rationale, see our research update

Brief Excerpt:

...NEW YORK (S&P Global Ratings) Sept. 5, 2017--S&P Global Ratings today assigned its '##-' issue-level rating and '4' recovery rating to Carlsbad, Calif.-based satellite services and equipment provider ViaSat Inc.'s proposed $600 million senior unsecured notes due 2025. The company plans to use the proceeds from the notes issuance to repay its $575 million 6.875% senior unsecured notes due 2020. The '4' recovery rating indicates our expectation for average (30%-50%; rounded estimate: 45%) recovery for lenders in the event of a payment default. We will withdraw the ratings on ViaSat's existing notes when they have been redeemed. The '##-' corporate credit rating and stable outlook on ViaSat remain unchanged. For the full corporate credit rating rationale, see our research update on ViaSat, published June 21, 2017. RELATED CRITERIA + General Criteria: Methodology For Linking Long-Term And Short-Term Ratings , April 7, 2017 + Criteria - Corporates - General: Recovery Rating Criteria For Speculative-Grade...

Report Type:

Ratings Action

Issuer

Viasat Inc.

GICS

Communications Equipment (45201020)

Sector

Global Issuers

Country

United States

Region

United States

Format:

PDF

Summary: ViaSat Inc. – 2018/07/11 – US$ 225.00

Viasat Inc. $500 Million Secured Notes Rated 'BB+' (Recovery: '1'); Existing Note Rating Lowered To 'B+' (Recovery: '5') – 2019/03/19 – US$ 150.00

Viasat Senior Unsecured Note Rating Lowered To 'B', Recovery Rating Revised To '6' On $100 Million Secured Note Upsizing – 2019/03/21 – US$ 150.00

Viasat Inc. – 2019/09/20 – US$ 500.00

Viasat Inc.'s $400 Million Senior Unsecured Notes Issued To Fund ViaSat-3 Capital Expenditure Through 2022 Rated 'B' – 2020/06/17 – US$ 150.00

ViaSat Inc. Corporate Credit Rating Raised To 'BB-'; Outlook Stable – 2017/06/21 – US$ 150.00

Research Update: ViaSat Inc. Corporate Credit Rating Raised To 'BB-'; Outlook Stable – 2017/06/21 – US$ 225.00

ViaSat Inc. Outlook Revised To Positive From Stable; 'B+' Rating Affirmed – 2016/02/11 – US$ 150.00

Research Update: ViaSat Inc. Outlook Revised To Positive From Stable; 'B+' Rating Affirmed – 2016/02/11 – US$ 225.00

Summary: ViaSat Inc. – 2015/04/20 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "ViaSat Inc.'s Proposed Senior Unsecured Notes Rated 'BB-' (Recovery Rating: '4')" Sep 05, 2017. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/ViaSat-Inc-s-Proposed-Senior-Unsecured-Notes-Rated-BB-Recovery-Rating-4-1910077>

APA:	S&P Global Ratings’ Credit Research. (). ViaSat Inc.'s Proposed Senior Unsecured Notes Rated 'BB-' (Recovery Rating: '4') Sep 05, 2017. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/ViaSat-Inc-s-Proposed-Senior-Unsecured-Notes-Rated-BB-Recovery-Rating-4-1910077>

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