Research Update: ISS Group's Proposed €975 Million Senior Subordinated Notes Rated 'B-'; Group Ratings Affirmed Apr 06
- ID: 1710736
- April 2006
- Standard & Poors
On April 20, 2006, Standard & Poor's Ratings Services assigned its 'B-' rating to the proposed €975 million senior subordinated notes due 2016 to be issued by FS Funding A/S, a holding company in Denmark-based facilities services group, ISS. The proceeds will primarily be used for refinancing existing debt. At the same time, Standard & Poor's affirmed its 'B+' long-term corporate credit ratings on FS Funding, and wholly owned subsidiaries ISS A/S and ISS Global A/S. The 'B' short-term corporate credit rating on ISS A/S was also affirmed. The outlooks on all the long-term corporate credit ratings are stable. Pro forma for the refinancing and including the debt raised in connection with the acquisition of Tempo Services Ltd. at the...
Companies mentioned in this report are:
- ISS A/S
- ISS World Services A/S
- ISS Global A/S
Action: New Rating
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.