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Recovery Report: Lecta S.A.'s Recovery Rating Profile Mar 08

  • ID: 1806685
  • March 2008
  • Standard & Poors
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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.

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: Full Analysis

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Lecta S.A.

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