|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.7700 - 0.8100|
|52 Week Range||0.7700 - 0.8100|
|Beta (5Y Monthly)||0.90|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 27, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Mar 07, 2019|
|1y Target Est||3.61|
Moody's Investors Service (Moody's) assigned a Ba2 rating on the $90 million Senior Secured Super-priority New Money Debtor-in-Possession (DIP) facility and B1 rating to the $90 million Senior Secured Super Priority Term Loan, DIP Roll-up (the DIP facilities) issued by SpeedCast Communications, Inc. (SpeedCast or the obligor). Today's rating on the DIP facility is being assigned on a "point-in-time" basis, will not be monitored going forward, and will have no outlook assigned to the rating.
Moody's Investors Service, ("Moody's") has today changed the ratings outlook to negative from stable for Connect Bidco Limited, the top-entity of the ring-fenced group that owns Inmarsat Limited after its acquisition in late 2019 by Connect Top Co Limited (a joint venture company formed by private equity groups Apax and Warburg Pincus alongside Canada's CPPIB and Ontario Teachers' Pension Plan Board) as well as for its rated subsidiaries. At the same time, Moody's has affirmed the B1 corporate family rating (CFR) and B1-PD probability of default rating (PDR) at Connect Bidco Limited.
Moody's Investors Service has downgraded Speedcast International Limited's Corporate Family Rating (CFR) and senior secured term loan rating to Ca from Caa1. "The downgrade reflects Speedcast's missed interest and principal amortization payment due 31 March 2020 and the forbearance agreement with its lenders, which we consider an event of default," says Sean Hwang, a Moody's Assistant Vice President and Analyst. On 2 April 2020, Speedcast announced that it had entered into a forbearance agreement with its secured term loan and revolving credit facility lenders.