Morgan Keegan: ViaSat Completes Debt Offering

In a research report published today by Morgan Keegan, ViaSat Inc.

is likely to use its proceeds from a large sale to pay down the current revolving credit line, while providing capital for ViaSat-2. Morgan Keegan explained in the report, “The debt raise does not fundamentally impact our view of the company. We remain optimistic about ViaSat's long term potential, but believe expectations of the near term ramp in subscriber growth are overly optimistic and that estimates will have to come down. We maintain our Market Perform rating on shares of VSAT.” Morgan Keegan maintains its $40 PT on ViaSat, which closed yesterday at $46.06.