S&P cuts Global Eagle Entertainment

S&P said it lowered its corporate credit rating on Global Eagle Entertainment Inc. to B- from B. The corporate credit rating remains on CreditWatch where S&P placed it with negative implications on May 11.

“We intend to resolve the CreditWatch placement over the coming months as information becomes available about the company's operating performance, internal controls, financial policy, and realization of outlined synergies related to the acquisition of Emerging Markets Communications. However, we could withdraw our ratings on the company if there is any subsequent delay in the company's annual or quarterly financial reporting,” S&P said in a news release.

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