Bulletin: Solera Holdings' Announcement Of Its Planned Acquisition Of Explore Information Does Not Currently Affect Rating Apr 11
- Language: English
- Published: April 2011
NEW YORK (Standard & Poor's) June 7, 2011--Standard & Poor's Ratings Services said today it assigned its 'BB-' issue-level rating to Solera Holdings Inc.'s $350 million senior notes due 2018. The new rating is one notch below the 'BB' corporate credit rating on the company. We also assigned a '5' recovery rating to this debt, indicating our expectation of modest (10%-30%) recovery for lenders in the event of a payment default. In addition, we raised the issue rating on the company's first-lien credit facilities to 'BB+' from 'BB' as a result of a revision of the recovery rating on this debt, which we revised to '2' from '3'. The '2' recovery rating indicates substantial (70%-90%) recovery. The rating revision reflects...
Companies mentioned in this report are: Solera Holdings Inc.
Action: New Rating
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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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Solera Holdings Inc.