NEW YORK (Standard&Poor's) Dec. 2, 2013--Standard&Poor's Ratings Services today lowered the rating on satellite broadband provider ViaSat Inc.'s senior unsecured notes to 'B-' from 'B+' and revised the recovery rating to '6' from '4'. This follows the company's recently completed $500 million revolving credit facility, which replaces the previous $325 million facility. The increase in priority debt that results from this transaction in a default scenario reduces recovery prospects for the unsecured noteholders to negligible recovery (0% to 10%) from the previous average recovery (30%-50%). The 'B+' corporate credit rating and stable outlook on ViaSat remain unchanged. The larger revolving credit facility improves ViaSat's liquidity, but it still remains "adequate", given our expectation for the company
