Viasat Senior Unsecured Note Rating Lowered To 'B', Recovery Rating Revised To '6' On $100 Million Secured Note Upsizing - S&P Global Ratings’ Credit Research

Viasat Senior Unsecured Note Rating Lowered To 'B', Recovery Rating Revised To '6' On $100 Million Secured Note Upsizing

Viasat Senior Unsecured Note Rating Lowered To 'B', Recovery Rating Revised To '6' On $100 Million Secured Note Upsizing - S&P Global Ratings’ Credit Research
Viasat Senior Unsecured Note Rating Lowered To 'B', Recovery Rating Revised To '6' On $100 Million Secured Note Upsizing
Published Mar 21, 2019
4 pages (1430 words) — Published Mar 21, 2019
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) March 21, 2019--S&P Global Ratings today lowered its issue-level rating on Viasat Inc.'s outstanding senior unsecured notes due 2025 to 'B' from 'B+' and revised the recovery rating on the notes to '6' from '5' following the company's proposed $100 million upsizing of its secured notes due 2027 because the additional secured claims result in minimal residual value for the unsecured creditors in our simulated default. The '6' recovery rating indicates our expectation for negligible (0%-10%; rounded estimate: 5%) recovery in the event of a payment default. Our 'BB+' issue-level rating and '1' recovery rating on Viasat's secured debt remain unchanged because we continue to expect very high recovery (90%-100%; rounded estimate: 95%) in a

  
Brief Excerpt:

...Viasat Senior Unsecured Note Rating Lowered To 'B', Recovery Rating Revised To '6' On $100 Million Secured Note Upsizing...

  
Report Type:

Ratings Action

Issuer
Viasat Inc.
GICS
Communications Equipment (45201020)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Viasat Senior Unsecured Note Rating Lowered To 'B', Recovery Rating Revised To '6' On $100 Million Secured Note Upsizing" Mar 21, 2019. Alacra Store. May 16, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Viasat-Senior-Unsecured-Note-Rating-Lowered-To-B-Recovery-Rating-Revised-To-6-On-100-Million-Secured-Note-Upsizing-2184186>
  
APA:
S&P Global Ratings’ Credit Research. (). Viasat Senior Unsecured Note Rating Lowered To 'B', Recovery Rating Revised To '6' On $100 Million Secured Note Upsizing Mar 21, 2019. New York, NY: Alacra Store. Retrieved May 16, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Viasat-Senior-Unsecured-Note-Rating-Lowered-To-B-Recovery-Rating-Revised-To-6-On-100-Million-Secured-Note-Upsizing-2184186>
  
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