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Solera Holdings Inc. $350M Senior Notes Assigned 'BB-' Rating (Recovery Rating: 5) Jun 11 Product Image

Solera Holdings Inc. $350M Senior Notes Assigned 'BB-' Rating (Recovery Rating: 5) Jun 11

  • Published: June 2011
  • Standard & Poors

Abstract
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

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 READ MORE >

Solera Holdings Inc.

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