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Neff Rental LLC Assigned Preliminary 'B' Rating, $200 Million Notes Assigned Preliminary 'B-' Rating; Outlook Is Stable May 11
Standard & Poors, May 2011
U.S.-based construction equipment rental company Neff Rental LLC is offering to sell $200 million in new second-lien secured notes due 2016. We are assigning our preliminary 'B' corporate credit rating to Neff. At the same time, we are assigning a preliminary 'B-' issue-level rating to the company's notes, with a recovery rating of '5'. The stable outlook reflects our view that Neff will maintain ratings stability as it benefits from recent improving market conditions. NEW YORK (Standard & Poor's) May 2, 2011--Standard & Poor's Ratings Services said today that it has assigned its preliminary 'B' corporate credit rating to Miami, Fla.-based Neff Rental LLC. At the same time, we are assigning a preliminary 'B-' issue-level rating to the company's notes...
Companies mentioned in this report are: Neff Rental LLC,Neff Rental Inc.
Action: New Rating
Action: Outlook: Stable
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.
Neff Rental LLC,Neff Rental Inc.