S&P assigns BBB- to QVC loan, notes

Standard & Poor's said it assigned QVC Inc.'s $2 billion senior secured revolving credit facility due 2018 a BBB- issue-level rating, with a recovery rating of 1, indicating an expectation for very high (90%-100%) recovery for debtholders in the event of a payment default.

At the same time, S&P also assigned QVC's proposed senior secured notes due 2023 and 2043 a BBB- issue-level rating with a recovery rating of 1. The issue-level ratings are two notches above S&P's BB corporate credit rating on the company.

The outlook on Liberty Interactive and QVC is stable.

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