Fitch lowers Univision Communications

Fitch Ratings said it downgraded Univision Communications Inc.'s issuer default rating and senior unsecured debt ratings to BB from BBB- and the ratings remain on rating watch negative.

The company, along with a group that includes Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners and Saban Capital Group, announced they have signed a definitive agreement under which the group will acquire Univision for $36.25 per share in cash, the agency noted.

The downgrade reflects Fitch's belief that debt levels will materially increase as a result of this transaction negatively impacting the credit profile of the company with significant potential that ratings could be downgraded further.

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