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Recovery Report: ISS Holding A/S' Recovery Rating Profile May 08 Product Image

Recovery Report: ISS Holding A/S' Recovery Rating Profile May 08

  • ID: 1711219
  • May 2008
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services has raised its ratings on debt issues of Denmark-based facilities services provider ISS Holding A/S (BB-/Stable/--) following an upgrade of the company. The recovery ratings are unchanged. We have raised our issue rating on ISS Holding A/S's €454 million senior subordinated notes due 2016 to 'B'. This remains two notches below the corporate credit rating on ISS Holding A/S. The recovery rating of '6' remains unchanged, and indicates our expectation of negligible (0%-10%) recovery in the event of a payment default. We have also raised our issue rating on €850 million notes due 2010 and €110 million notes due 2014 issued under a €2 billion euro medium-term note (EMTN) program by ISS Global A/S (BB-/Stable/--),...

Companies mentioned in this report are:
- ISS Global A/S
- ISS A/S

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: Full Analysis

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