Welcome!

Mobile IoT Authors: Pat Romanski, Yeshim Deniz, Elizabeth White, Liz McMillan, Kevin Benedict

News Feed Item

Fitch Releases 3Q'12 U.S. Telecommunications & Cable Stats Quarterly Report

According to a new report issued today by Fitch Ratings, the U.S. Telecom and Cable sector's liquidity and margins have remained stable throughout 2012 in the face of competitive pressures with minimal organic growth opportunities.

Third-quarter liquidity remained strong, with 94% of committed facilities available for borrowing and total liquidity exceeding aggregate 2012, 2013, and 2014 maturities. Refinancing activities have extended the maturity profile within the sector, as scheduled maturities during 2013 and 2014 declined by over $4 billion since second-quarter 2012. LTM free cash flow (FCF) improved in the third quarter to $36 billion, and issuers maintained balance sheet cash and short-term investment balances of approximately $51 billion, over $10 billion more than last quarter mainly through debt issuance. Comcast Corp. generated almost $7 billion more of cash in excess of second-quarter balances due to proceeds received from SpectrumCo.'s sale of AWS spectrum to Verizon Wireless and cash proceeds received from the redemption of NBCUniversal's economic stake in A&E Television Networks LLC.

Margins have remained stable throughout 2012 in the face of persistent competitive pressures and with minimal organic growth opportunities. Aggregate LTM EBITDA margins declined 117 basis points (bps) year over year to 32%. DISH Network Corp.'s LTM EBITDA margins witnessed the largest declines in the portfolio with a 100 bps decline quarter over quarter and a 420 bps decline year over year, primarily resulting from higher subscriber-related expenses. Credit profiles are steady, as leverage is slightly lower from the previous year at 2.35x from 2.42x.

Capital intensity typically ranges between 13.5%-14% for the telecommunications industry. Fitch expects capital intensity to retreat in 2013 to the lower end of this range, which includes a continuation of higher wireless spending due to the deployment of 4G LTE technology. Aside from the industry, AT&T announced it would boost capital spending until 2015 to significantly expand both wireless and wireline broadband networks.

The full report 'Telecommunications & Cable Stats Quarterly -- Third-Quarter 2012' is available on www.fitchratings.com.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research: U.S. Telecom and Cable Stats Quarterly -- Third-Quarter 2012
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=696485

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
Bill Schmarzo, Tech Chair of "Big Data | Analytics" of upcoming CloudEXPO | DXWorldEXPO New York (November 12-13, 2018, New York City) today announced the outline and schedule of the track. "The track has been designed in experience/degree order," said Schmarzo. "So, that folks who attend the entire track can leave the conference with some of the skills necessary to get their work done when they get back to their offices. It actually ties back to some work that I'm doing at the University of San...
CloudEXPO New York 2018, colocated with DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
SYS-CON Events announced today that IoT Global Network has been named “Media Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. The IoT Global Network is a platform where you can connect with industry experts and network across the IoT community to build the successful IoT business of the future.
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
Disruption, Innovation, Artificial Intelligence and Machine Learning, Leadership and Management hear these words all day every day... lofty goals but how do we make it real? Add to that, that simply put, people don't like change. But what if we could implement and utilize these enterprise tools in a fast and "Non-Disruptive" way, enabling us to glean insights about our business, identify and reduce exposure, risk and liability, and secure business continuity?