Viasat Inc. Placed On CreditWatch Pending Information On Satellite Anomoly

Viasat Inc. management plans to provide a more detailed update on the status the Viasat-3 F-1 satellite anomaly and related contingency plans in November 2023. We plan to update our financial projections and review our ratings based on the amount of throughput available on F-1 (if any), more concrete plans to replace any lost capacity, and the impact on the timeframe for achieving meaningfully positive cash flow. We placed all our ratings on Viasat, including our 'BB-' issuer credit rating on CreditWatch with negative implications. We plan to resolve the CreditWatch shortly after the company's third quarter earnings call in November 2023 and could lower ratings if the magnitude of projected cash generation beyond 2025 is weaker than our initial

...October 4, 2023 - Viasat Inc. management plans to provide a more detailed update on the status the Viasat-3 F-1 satellite anomaly and related contingency plans in November 2023. - We plan to update our financial projections and review our ratings based on the amount of throughput available on F-1 (if any), more concrete plans to replace any lost capacity, and the impact on the timeframe for achieving meaningfully positive cash flow. - We placed all our ratings on Viasat, including our '##-' issuer credit rating on CreditWatch with negative implications. - We plan to resolve the CreditWatch shortly after the company's third quarter earnings call in November 2023 and could lower ratings if the magnitude of projected cash generation beyond 2025 is weaker than our initial expectations, or if the timing is significantly delayed. NEW YORK (S&P Global Ratings) Oct. 4, 2023--S&P Global Ratings today took the rating actions listed above. We believe the company's ability to generate meaningful and...

Ratings Action