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EH Holding Corp. Senior Secured Notes Recovery Rating Revised To '4' From '3' On Upsizing May 11
Standard & Poors, May 2011
NEW YORK (Standard & Poor's) May 17, 2011--Standard & Poor's Ratings Services said today it lowered the recovery rating on Denver-based EH Holdings Corp.'s (EHH) senior secured notes due 2019 to '4' from '3'. A '4' recovery rating indicates expectations for average (30%-50%) recovery in the event of a payment default. At the same time, we affirmed the 'B+' issue-level ratings on the company's senior secured notes. The rating action reflects the upsizing of the senior secured notes to $1.1 billion from an initial size of $1 billion and does not imply a diminution in the overall credit quality of the company. The upsized notes are provided lower collateral coverage. Also, we affirmed the 'B-' issue-level rating on EHH's senior...
Companies mentioned in this report are: EH Holding Corp.
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EH Holding Corp.