- Language: English
- Published: March 2012
- Region: Global
BCBG Max Azria Group Inc. First-Lien Term Loan Assigned Preliminary 'B-' Rating; Corporate Credit Rating Raised To 'B-'
- Published: May 2011
- Standard & Poors
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
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U.S. specialty apparel company BCBG is refinancing its first- and second-lien debt to extend the maturities and improve liquidity. We are raising our corporate credit rating on BCBG to 'B-' from 'CCC+', reflecting our expectation that that liquidity will improve to less than adequate from weak after the completion of the refinancing, with an extended maturity profile and adequate covenant headroom. At the same time, we are assigning a 'B-' preliminary issue-level rating, with a preliminary recovery rating of '3' to the company's proposed $230 million senior secured first-lien term loan due 2015. The outlook is stable, indicating our expectation that the operating performance will remain relatively stable and covenant headroom should remain adequate. NEW YORK (Standard & Poor's) May...
Companies mentioned in this report are: BCBG Max Azria Group Inc.
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BCBG Max Azria Group Inc.