Compression Polymers Holdings LLC Rating Affirmed, 'B-' Assigned To Senior Unsecured Notes May 05

  • ID: 1722438
  • May 2005
  • Standard & Poors
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NEW YORK (Standard & Poor's) May 10, 2005--Standard & Poor's Ratings Services said today that it affirmed its 'B' corporate credit rating on Moosic, Pa.-based building products manufacturer Compression Polymers Holdings LLC (Compression LLC) in connection with its sale to AEA Investors LLC (AEA). The outlook is stable. At the same time, Standard & Poor's assigned its 'B-' senior unsecured rating to the $65 million floating rate notes due 2012 and $150 million fixed-rate notes due 2013, issued under Rule 144a with registration rights, of Compression Polymers Holding Corp. (Compression; Compression LLC's successor company). The senior unsecured debt is rated one notch below the corporate credit rating, based on Standard & Poor's expectations that the level of priority liabilities, relative...

Companies mentioned in this report are:
- CPG International LLC

Action: Affirmed
Action: New Rating
Action: Outlook: Stable
Action: Withdrawn

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Research type: News
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- CPG International LLC

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