Quantcast
Channel: Daily Bankrupt Company Updates | Bankrupt Company News
Viewing all articles
Browse latest Browse all 4593

Monitronics International’s Ratings Lowered

$
0
0

On September 8, 2016, S&P Global Ratings lowered its corporate credit rating on Monitronics International, Inc. to B- from B, its existing first-lien debt to B- from B and its $585 million senior unsecured notes due 2020 to CCC from CCC+. “The downgrade reflects our view that Monitronics will continue to report negative free operating cash flow and rising leverage even as it experiences little growth in its subscriber base over the next 18 months,” said S&P Global Ratings’ credit analyst Kenneth Fleming. “The stable outlook reflects our expectation that Monitronics will be able to service higher interest expense under the new capital structure,” said Mr. Flemming. “Although we expect the company to generate negative free cash flow over the next 24 months, we project gradual improvement in attrition and creation costs, which will enable the company to reduce its cash usage.” Read more on distressed companies.

The post Monitronics International’s Ratings Lowered appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


Viewing all articles
Browse latest Browse all 4593

Trending Articles