Intelsat S.A. Ratings Are Lowered To #CC# From #CCC# And Placed On CreditWatch Negative On Exchange Offer

Stocks and Financial Services Press Releases Wednesday August 31, 2016 08:56
NEW YORK--31 Aug--S&P Global Ratings

NEW YORK (S&P Global Ratings) Aug. 30, 2016--S&P Global Ratings lowered its corporate credit rating on Intelsat S.A. as well as the issue-level rating on the 6.625% notes due 2022 issued at Intelsat Jackson Holdings S.A. to 'CC' from 'CCC'. We also placed these ratings on CreditWatch with negative implications. All other issue-level ratings remain unchanged.

"The downgrade reflects Intelsat's launch of a distressed exchange offer that we would consider a selective default because the combination of cash and new securities offered is less than the original par amount of the notes," said S&P Global Ratings credit analyst Rose Askinazi.

We plan to resolve the CreditWatch placement in the coming weeks, and lower our corporate credit rating on Intelsat to 'SD' and our issue-level rating on the company's 6.625% notes to 'D' once the distressed exchange is complete.

Latest Press Release

FSS Launches a Risk-Based Authentication Solution to Bolster Security For Digital Transactions

FSS (Financial Software and Systems), a global payments technology company, has launched FSS Secure3D, its new-generation adaptive authentication solution based on the EMVCo 3DS 2.0 protocol. Globally, across regions, banks need to implement 3DS2.0...

PwC: Assets under management in Asia Pacific to rise to USD29.6 trillion by 2025, faster than any other region

The Asia Pacific (APAC) asset and wealth management industry is expected to be the centre for global Assets under management (AuM) growth in the coming years. According to the PwC report 'Asset and Wealth Management 2025: The Asia Awakening', APAC AuM...

OnMiners Mining Rigs Offering Market#s Fastest ROI

OnMiners S.A ( is quickly making a strong impact in the crypto mining industry by offering the market's fastest return on investment. The company recently hit the headlines by introducing three multi-algorithm mining rigs that...

The Mall Groups Department Stores partner with SCB to offer sizzling promotions with a chance to win RIMOWA luggage

The Mall, Emporium, EmQuartier and Paragon Department Stores joined forces with SCB to hold "Made in Summer" campaign from today to 17 April 2019 to delight shoppers with superb promotions: shop to receive coupons with up to 40% discount; a chance to win...

Bangkok Bank InnoHub Season 2 showcases innovative technologies from eight finalists at Demo Day 2019

Bangkok Bank InnoHub, the first global FinTech accelerator in Thailand, has showcased innovations and real-use cases from the program's eight finalists to the public, potential investors and others in Thailand's innovation ecosystem on Demo Day. The...

Related Topics