Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2

Frontier Communications' Debt Refinancing: What Just Happened?
Mar. 19, 2019 2:36 AM ET|
16 comments
|
About: Frontier Communications Corporation (FTR)

Summary
Frontier Communications announced a refinancing of two secured tranches, combining them into a single tranche with a February 2027 maturity.

This announcement created much debate about whether the unfavorable terms heralded a quick bankruptcy filing or whether this was the step needed to ensure the company's survival.

This analyst was interested in whether the new maturity schedule would enable Frontier to "run the table", using internally generated cash to redeem successfully the upcoming maturities.

The "new", modeled maturity schedule is offered, incorporating upcoming changes, to be used as a basis for discussing the impact upon the company's ability to remain sustainable.
 

Xerox Corp. 'BB+' Rating Placed On CreditWatch Negative

  • 19-Mar-2019 11:33 EDT
View Analyst Contact Information


  • U.S. printing technologies and managed document services provider Xerox
    Corp.'s 8-K filing today disclosed that it is exploring the possibility
    and feasibility of a strategic transaction for its customer financing
    business and assets.
  • While there is no commitment by the company or its board to complete a
    transaction, the structure and use of proceeds could result in leverage
    exceeding 4x, compared to our downgrade trigger of 3x. We could lower our
    ratings by up to two notches if the company does not apply any proceeds
    to debt repayment, but could be neutral if it reduces debt.
  • We placed all of our ratings on Xerox, including our 'BB+' issuer credit
    rating, on CreditWatch with negative implications.
  • We expect to resolve the CreditWatch within 90 days or when we have
    additional information.
 
Revlon Inc. shares tumbled 6.9% on Tuesday, after the cosmetics company said it would be late filing its annual report for 2018, after identifying a material weakness in its financial reporting. Full Story
Magari scendesse per quello ,scende perché perde sempre

“We have already developed and begun to implement a remediation plan to address this finding, and we’ll continue to enhance our internal control environment as we move forward,” she told analysts, according to a FactSet transcript. “The company expects that this matter will not result in any changes to its financial results.”
 

Users who are viewing this thread

Back
Alto