Luxembourg-Based Paper Producer Lecta S.A Outlook Revised To Stable On Improved Performance; 'B+' Ratings Affirmed Apr 11
- Language: English
- Published: April 2011
Standard & Poor's Ratings Services today assigned recovery ratings to Lecta S.A.'s unsecured debt, while leaving the issue level rating on this debt unchanged. The issue-level rating on Lecta's -150 million unsecured notes remains unchanged at 'B-' (two notches lower than the 'B+' corporate credit rating on the company), and a recovery rating of '6' was assigned to this debt, indicating our expectation of negligible (0%-10%) recovery in the event of a payment default. The recovery rating was assigned in line with our application of recovery rating criteria to all speculative-grade unsecured debt issues and does not reflect any changes in our analysis of the underlying credit quality of the group. At the same time, Standard & Poor's left unchanged...
Companies mentioned in this report are: Lecta S.A.
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