CHICAGO--(BUSINESS WIRE)--According to a new report issued today by Fitch Ratings, first-quarter 2013 liquidity remained strong, with an improved 89% of committed facilities available for borrowing and total liquidity exceeding aggregate 2013, 2014 and 2015 maturities. Issuers in the portfolio have decreased aggregate 2013 and 2014 maturities by over $7 billion since fourth-quarter 2012. LTM free cash flow remained steady at $33 million, and issuers maintained balance sheet cash and short-term investment balances of approximately $39 million. Refinancing activity over the first quarter reduced cash by $8 billion, which stabilized cash balances to normal levels after elevated debt issuances at the end of 2012.
The full report 'Telecommunications & Cable Stats Quarterly -- First-Quarter 2013' is available at 'www.fitchratings.com'.
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria and Related Research: U.S. Telecom and Cable Stats Quarterly -- First-Quarter 2013
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=711703
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