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Bulletin: Springleaf Finance Corp. Rating Unaffected By Proposed Term-Loan Refinancing
Standard & Poors, April 2011
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
NEW YORK (Standard & Poor's) April 29, 2011--Standard & Poor's Ratings Services said today that its ratings on Springleaf Finance Corp. (B/Negative/C) remain unchanged after the company's announcement that it aims to refinance its existing $3.0 billion senior secured term loan by extending the maturity date, and simultaneously lowering the funding cost. We would view the company's refinancing this facility (which only represents a minor portion of total debt) as a positive credit event for Springleaf because it would be another step forward in the company's endeavor to secure access to sustainable funding. However, the successful refinancing would be unlikely to change the rating. We rate the company's current term loan 'B+'....
Companies mentioned in this report are: Springleaf Finance Corp.
Action: Bulletin
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