Moody’s could downgrade Intelsat’s debt rating
TORONTO – Moody’s Investors Service has placed the long-term debt ratings of the Intelsat Ltd. group of companies (Intelsat) on review for possible downgrade, citing concerns over private equity firm BC Partners plans to buy a majority stake in the firm for $4.6 billion. The company now holds a “B2” corporate family rating from Moody's, which is five steps below investment grade. The company reported June 19 that funds advised by BC Partners are to acquire 76% of the equity of Intelsat’s parent company, Intelsat Holdings Ltd. The current shareholders, Apax Partners, Apollo Management, Madison Dearborn Partners, Permira and management, will...
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