Reports that Newport TV Holdings is evaluating strategic alternatives could...
Reports that Newport TV Holdings is evaluating strategic alternatives could trigger “change of control” provisions in some of its debt, Moody’s said Tuesday. “Moody’s believes that depending on the deal structure, change of control protections under the indentures (requiring repayment…
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of these notes at 101 percent) and under the credit agreement is likely to mitigate the potential negative impact of a sale of the company under a typical highly-leveraged LBO capital structure,” analyst Carl Salas said. A spokesman for Providence Equity Partners, which owns Newport, declined to comment.