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Aston Martin Holdings (UK) Ltd. Assigned Preliminary 'BB-' Long-Term Rating; Outlook Stable Jun 11
Standard & Poors, June 2011
Abstract
U.K.-based automotive manufacturer Aston Martin has announced plans to refinance its existing debt facilities with a -300 million senior secured notes issue. We are assigning our 'BB-' preliminary long-term corporate credit rating to the company and, at the same time, we are assigning our preliminary 'BB-' issue rating and a preliminary '3' recovery rating to the -300 million notes. The stable outlook reflects our view that Aston Martin's operating earnings and cash flows should continue to improve from the trough year of 2009, supported by solid demand for luxury sports vehicles and major model launches in 2012. FRANKFURT (Standard & Poor's) June 7, 2011--Standard & Poor's Ratings Services said today that it has assigned its 'BB-' preliminary long-term corporate credit...
Companies mentioned in this report are: Aston Martin Holdings (UK) Ltd.,Aston Martin Capital Ltd
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 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: 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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