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Recovery Report: Exopack Holding Corp.'s Recovery Rating Profile May 11 Product Image

Recovery Report: Exopack Holding Corp.'s Recovery Rating Profile May 11

  • ID: 1807439
  • May 2011
  • Standard & Poors

Abstract
We have updated our recovery analysis on U.S.-based manufacturer of flexible packaging products Exopack Holding Corp. to reflect the reduction of its term loan facility by $50 million to $350 million and the upsizing of its senior unsecured notes by $10 million to $235 million. Our recovery and issue ratings remain unchanged and are referenced below in table 1. The company plans to use the proceeds of the term loan and the notes to fund a dividend distribution of about $150 million to its shareholders, refinance its outstanding debt of about $76 million under its existing ABL revolver and senior unsecured notes of about 320 million, and pay for transaction-related fees and expenses. Exopack is replacing its existing $125 million...

Companies mentioned in this report are: Exopack Holding Corp.,Cello-Foil Products Inc,Exopack LLC

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

Note: Product cover images may vary from those shown

Exopack Holding Corp.,Cello-Foil Products Inc,Exopack LLC

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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