Moody's assigns Intelsat Jackson notes B3

Moody's Investors Service said it assigned a B3 rating to Intelsat Jackson Holdings SA's new $800 million senior unsecured guaranteed notes issue.

As the senior-most issuer in the Intelsat group of companies, Intelsat is the entity at which Moody's maintains corporate family and probability of default ratings, both of which remain unchanged at Caa1. As well, the corporate family's speculative grade liquidity rating remains unchanged at SGL-3 and the outlook remains unchanged at stable.

With Intelsat's consolidated debt not affected, Moody's said the transaction is leverage neutral and therefore has no impact on Intelsat's corporate family rating and probability of default rating. Both ratings were affirmed at Caa1.

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