- Language: English
- 109 Pages
- Published: March 2010
- Region: United States
Research Update: Polymer Group Inc. 'B' Rating Affirmed, Off Watch After Blackstone Acquisition; Outlook Stable Jan 11
- Published: January 2011
- Standard & Poors
U.S.-based nonwovens manufacturer Polymer Group Inc. is being acquired by an affiliate of Blackstone Capital Partners V L.P. We have affirmed the 'B' corporate credit rating on Polymer Group Inc., and removed the rating from CreditWatch, where it had been placed with developing implications on April 13, 2010. The CreditWatch implications were revised to negative on Oct. 6, 2010. We are also assigning issue-level and recovery ratings to the company's proposed $530 million in senior secured notes. The outlook is stable, reflecting our view that improving operating results and favorable business conditions should allow Polymer Group to maintain a financial profile consistent with the current ratings. On Jan. 12, 2011, Standard & Poor's Ratings Services affirmed its 'B' corporate credit...
Companies mentioned in this report are: Polymer Group Inc.
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Polymer Group Inc.