MDA Space Ltd TSE: MDA stock News
S&P Global Ratings has assigned a "B" issue--level rating and a "6" recovery rating to MDA Space Ltd.'s (TSX: MDA) proposed senior unsecured notes. The proceeds from this debt issuance, in conjunction with the US$819 million raised in the company's recent equity offering, are earmarked to finance the €567 million acquisition of a 70% majority stake in French geointelligence firm Collecte Localisation Satellites (CLS). While the rating agency views the acquisition as a strategic alignment for the CHORUS constellation, it projected a pro forma adjusted debt--to--EBITDA ratio of approximately 3x for 2027.