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Research Update: Dutch Private-Label Soft Drink/Fruit Juice Producer Refresco Assigned 'BB-' CCR And Debt Rating; Outlook Stable May 11 Product Image

Research Update: Dutch Private-Label Soft Drink/Fruit Juice Producer Refresco Assigned 'BB-' CCR And Debt Rating; Outlook Stable May 11

  • ID: 1783793
  • May 2011
  • Region: Netherlands, Holland
  • Standard & Poors

Abstract
The Netherlands-based Refresco Group B.V., Europe's largest private-label soft drink and fruit juice manufacturer, is proposing to issue -660 million senior secured notes to extend its current debt maturities and simplify its capital structure. We are assigning our 'BB-' long-term corporate credit rating to Refresco, as well as our 'BB-' issue rating and recovery rating of '4' to Refresco's -660 million proposed notes. The stable outlook reflects our view that Refresco will likely continue to perform resiliently, generate positive free cash flow, and maintain Standard & Poor's-adjusted debt leverage of close to 4.5x. On May 9, 2011, Standard & Poor's Ratings Services assigned its 'BB-' long-term corporate credit rating to The Netherlands-based private-label soft drink and fruit juice manufacturer Refresco...

Companies mentioned in this report are: Refresco Group B.V.
Action: New Rating

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 READ MORE >

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