Moody's Telesat Canada view now developing

Moody's Investors Service said it changed Telesat Canada's outlook to developing from stable on expectations that the company is investigating a dividend recapitalization transaction and that it will be completed within a short time.

At the same time, Moody's affirmed the company's B2 corporate family and probability of default ratings, as were all instrument ratings. Despite the pending Oct. 31, 2012 maturity of the company's liquidity facility, Telesat's speculative grade liquidity rating remains unchanged at SGL-3.

© 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.