Clear Channel Outdoor Holdings Inc CCO

Communication Services

Clear Channel Outdoor Holdings, Inc. is an out-of-home advertising company. The Company provides customized advertising solutions through its asset portfolio of roadside billboards, urban street furniture, airport advertising displays and other displays. The Company’s segments include America, Airports, and Europe-North. The America segment consists of operations in the United States excluding airports. The Airports segment provides advertising opportunities around and within United States and Caribbean airports. The Europe-North segment consists of operations in the United Kingdom, the Nordics, and several other countries throughout northern and central Europe. It also has operations in Latin America and Singapore. Its Latin American businesses include operations in Mexico, Brazil, Chile, and Peru. The Company generally outsources the design and manufacturing of advertising structures to third parties.

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Clear Channel Outdoor Holdings Inc

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Post by mdaneseon Dec 07, 2021 4:53pm

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Clear Channel Outdoor’s Access to Leverage-Based Debt

Currently, CCO is subject to a $150 million minimum liquidity covenant, tested monthly until a compliance certificate is submitted for the first quarter of 2022. As of Sept. 30 and pro forma for the revolver repayment, the company was in compliance with the liquidity covenant, with approximately $666 million of liquidity for covenant purposes. Full analysis here: https://reorg.com/clear-channel-outdoors-covenants/

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