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BULLETIN: ISS Group Ratings Unaffected By Increased Bond Issue
Standard & Poors, April 2006
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
STOCKHOLM (Standard & Poor's) April 28, 2006--Standard & Poor's Ratings Services said today its ratings and outlook remain unchanged on ISS group entities FS Funding A/S (corporate credit rating: B+/Stable/--), ISS A/S (CCR: B+/Stable/B), and ISS Global A/S (CCR: B+/Stable/--). This follows the announcement that FS Funding's initially proposed -975 million senior subordinated notes will be increased to -1.3 billion (split into two tranches). The notes have been rated 'B-'. The proceeds from the notes will be used for refinancing existing bridge loan facilities, including an existing pay-in-kind loan. The remaining proceeds from the upsizing (about -200 million) are expected to be reinvested in the businesses, and not used for shareholder returns....
Companies mentioned in this report are: ISS A/S,ISS World Services A/S,ISS Global A/S
Action: Bulletin
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