Speedcast Ratings Update
Speedcast Ratings Update
London, Nov 5, 2019 AEST (ABN Newswire) - Speedcast International Limited (ASX:SDA) (FRA:7SC) (OTCMKTS:SPPDF), the world's most trusted provider of remote communication and IT solutions, advises that S&P Global has lowered its issuer credit rating to B- from B, and maintained the outlook as Negative.

As previously disclosed, Speedcast does not have a ratings covenant in its debt facilities and this change has no direct impact on funding costs.

Speedcast continues to pursue a range of operational initiatives to improve its cost profile, working capital and cash flow performance, as well as other initiatives to improve the group's financial position. These were outlined to the market at the time of the Company's 1H19 results release and are starting to deliver improvements in some areas.


About Speedcast International Ltd

Speedcast InternationalSpeedcast International Ltd (ASX:SDA) is the world's largest remote communications and IT services provider. The company delivers critical communications solutions through its multi-access technology, multi-band and multi-orbit network of 80+ satellites and an interconnecting global terrestrial network, bolstered by extensive local support from 40+ countries. Speedcast is uniquely positioned as a strategic partner, tailoring communications, IT and digital solutions to meet customer needs and enable business transformation. The company provides managed information services with differentiated technology offerings, including cybersecurity, crew welfare, content solutions, data and voice applications, IoT solutions and network systems integration services. With a passionate customer focus and a strong safety culture, Speedcast serves more than 3,200 customers in over 140 countries in sectors such as Maritime, Energy, Mining, Enterprise, Media, Cruise, Humanitarian and Government. Learn more at Speedcast.

     


Contact

Ronn Bechler
Investor Relations
P: +61 400 009 774
E: ronn.bechler@marketeye.com.au



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