Moody's affirms Avanti's Ca CFR and changes PDR to Ca-PD/LD following distressed exchange
London, 01 February 2017-- Moody's Investors Service, has today changed Avanti Communications Group plc's probability of default rating to Ca-PD/LD from Ca-PD. The Ca corporate family rating and the Ca rating on Avanti's senior secured notes have been affirmed. The outlook has changed to stable from negative.Avanti Communications Group is engaged in commercial exploitation of its space and network assets. These assets include its spectrum rights, satellites, intellectual property and ground station assets. Co.'s network and other assets include broadband packages, managed capacity, fully integrated project, raw capacity, pure spectrum and a number of other product categories and models to suit customer and market circumstances. Co.'s technology platform is made up of two operational satellites and one hosted payload in orbit, two satellites under construction, and a ground segment infrastructure delivering comprehensive coverage of Europe, the Middle East and Sub-Saharan Africa.
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