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Fitch Discusses Blockbuster's Current Rating Watch Status in Report
Business Wire, Feb 3, 2005
NEW YORK -- Resolution of Blockbuster Inc.'s Rating Watch Negative status remains contingent on the company's financing plans for the proposed transaction of Hollywood Entertainment Corporation and the subsequent implications on the capital structure and combined operations, according to Fitch Ratings in its latest credit update on Blockbuster.
Fitch placed Blockbuster's 'BB' senior secured and 'B ' senior subordinated ratings on Rating Watch Negative on Nov. 11, 2004 after the company expressed interest in purchasing Hollywood Entertainment Corporation through a $1.1 billion cash offer, including $350 million of existing debt.
The credit update is available on the Fitch Ratings web site at www.fitchratings.com.
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