Fedex wins $2.35 bln U.S. defense contract -Pentagon
WASHINGTON, April 26 Federal Express Corp was awarded a five-year $2.35 billion contract, the Pentagon said on Wednesday.
Dec 12 - Standard & Poor's Ratings Services today assigned its 'BB-' issue-level rating and '3' recovery rating to St. Louis-based cable TV operator Charter Communications Inc.'s (Charter) proposed $750 million senior notes due 2023, to be issued by its subsidiaries CCO Holdings LLC and CCO Holdings Capital Corp. The '3' recovery rating indicates our expectation for meaningful (50% to 70%) recovery in the event of payment default. (For the complete recovery analysis, see Standard & Poor's recovery report on Charter, to be published as soon as possible following this report on RatingsDirect.) "We expect Charter to use the bulk of the net proceeds from these unsecured, publicly registered notes for debt repayment, including amounts under its credit facilities," said Standard & Poor's credit analyst Rich Siderman. Standard & Poor's ratings on Charter and related entities, including the 'BB-' corporate credit rating, are not affected by the new issuance. Charter reported approximately $13.7 billion of debt at Sept. 30, 2012. The ratings on Charter reflect aggressive leverage, formidable satellite and telephone company competition, and material basic video subscriber erosion. We view Charter's business risk profile as satisfactory and benefitting from favorable cable industry operating characteristics, including the good revenue visibility of its subscription-based business model and the significant bandwidth capacity of its fiber/coaxial plant. RATINGS LIST Rating Affirmed Charter Communications Inc. Corporate credit rating BB-/Stable/-- New Rating CCO Holdings LLC CCO Holdings Capital Corp. $750 mil. senior notes Senior unsecured BB- Recovery rating 3
WASHINGTON, April 26 Lockheed Martin Corp is being awarded a $423 million U.S. defense contract for cost-plus-fixed-fee modification to a previously awarded low-rate initial production Lot 10 F-35 Lightning II aircraft, the Pentagon said on Wednesday. (Reporting by Eric Beech; Editing by Eric Walsh)