Fitch raises LCPR instruments

Fitch Ratings said it raised Liberty Communications of Puerto Rico LLC's revolving credit facility, LCPR Loan Financing LLC's 2028 term loan and LCPR Senior Secured Financing DAC’s 2027 and 2029 notes to BB+/RR1 from BB/RR3.

Fitch also affirmed Liberty’s long-term issuer default rating at BB- and removed the under criteria observation designation from the instrument ratings and IDR.

“The rating actions reflect Fitch's revised approach under its recovery ratings criteria published April 9, 2021. LCPR's secured debt ratings qualify as category 1 first lien, which results in an RR1 (+2 notches) recovery rating. LCPR's ratings continue to reflect the company's strong business position in pay-TV and broadband services as well as a strong post-merger mobile offering in Puerto Rico,” Fitch said in a press release.

The outlook is stable.

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