...September 13, 2023 NEW YORK (S&P Global Ratings) Sept. 13, 2023--S&P Global Ratings today assigned its '##' issue-level rating and '2' recovery rating to Viasat Inc.'s $617 million secured term loan B due 2030. The '2' recovery rating indicates our expectation for substantial (70%-90%; rounded estimate: 85%) recovery in a simulated default scenario. At the same time, we assigned our 'B' issue-level rating and '6' recovery rating to the $733 million unsecured notes due 2031 (coupon expected to be 7.5%). The '6' recovery rating reflects our expectation for negligible (0%-10%; rounded estimate: 0%) recovery in a simulated default. The company plans to use the proceeds to repay the unsecured bridge facility. This transaction is neutral for the company's credit metrics, as it will not be receiving any cash nor will its debt balance or interest expense change. We are closely monitoring the company's mitigation efforts following the July 2023 anomaly on the first of three planned Viasat-3 satellites...
