Recovery Report: CPG International Inc.'s Recovery Rating Profile Feb 11
- ID: 1724051
- February 2011
- Region: Global
- Standard & Poors
We have revised our issue-level and recovery ratings on building products manufacturer CPG International Inc. 's(CPG) proposed senior secured credit facilities to reflect a $50 million increase in the principal amount of the proposed first lien term loan and the elimination of the proposed second lien term loan. As a result of the $50 million increase in the amount of proposed first lien debt, we revised the recovery rating on the proposed first lien term loan, while the issue-level rating remains unchanged. Proceeds of the term loan, together with a borrowing under an unrated asset-based lending (ABL) revolving credit facility, will be used to repurchase or redeem CPG's outstanding floating rate senior notes due 2012 and 10.5% senior notes due...
Companies mentioned in this report are:
- CPG International LLC
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