S&P: AMC Networks notes BB-

Standard & Poor's said it assigned its BB- issue-level and 4 recovery rating to AMC Networks Inc.'s proposed $600 million of senior unsecured notes due 2022.

The 4 recovery rating indicates an expectation of average recovery for noteholders in the event of a hypothetical payment default.

All other ratings, including the BB- corporate credit rating, are unaffected by this transaction.

The agency said the rating on AMC reflects the company's fair business risk profile and aggressive financial risk profile. The business risk assessment is based on the company's limited cable network portfolio, as it depends disproportionately on a single network, the AMC Network, for the majority of its revenue and cash flow, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.