EH Holding Corp. Senior Secured Notes Recovery Rating Revised To '4' From '3' On Upsizing May 11
Standard & Poors, May 2011
Abstract
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.
Action: Affirmed
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.
EH Holding Corp.
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW6
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
