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Asset Acceptance Capital Corp. Rating Lowered To 'B+' From 'BB-'; Outlook Negative May 11
Standard & Poors, May 2011
Abstract
AACC has delayed its recently-announced offering of a revolving credit facility and term loan B. The delay compounds our concerns about the FTC investigation of the company and its weak earnings performance. We are lowering our counterparty credit rating on AACC to 'B+' from 'BB-' and downgrading the company's existing revolving credit facility and term loan B. We are withdrawing our ratings on the company's previously-planned debt issuances. NEW YORK (Standard & Poor's) May 23, 2011--Standard & Poor's Ratings Services said today that it lowered its counterparty credit rating on Asset Acceptance Capital Corp. (AACC), a debt collection company, to 'B+' from 'BB-'. The outlook is negative. We also lowered our issue-level ratings on the company's existing revolving credit facility...
Companies mentioned in this report are: Asset Acceptance Capital Corp.
Action: Downgraded
Action: Outlook: Negative
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.
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