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Research Update: Dometic Holding Assigned 'B' Long-Term Corporate Credit Rtg; €200 Mil. Proposed PIK Notes Rated 'CCC+'; Outlook Stable Apr 11 Product Image

Research Update: Dometic Holding Assigned 'B' Long-Term Corporate Credit Rtg; €200 Mil. Proposed PIK Notes Rated 'CCC+'; Outlook Stable Apr 11

  • Published: April 2011
  • Standard & Poors

FEATURED COMPANIES

  • Dometic Group AB
  • Dometic Holding AB
  • MORE

Abstract
Sweden-based leisure product maker Dometic Holding AB's business risk profile is weak due to historically volatile end-markets and, in our view, low diversity. The company's financial risk profile is 'highly leveraged' due to a significant debt burden. We are assigning a 'B' long-term corporate credit rating to Dometic. The stable outlook reflects the company's recovering end markets and improving margins and cash flows. On April 8, 2011, Standard & Poor's Ratings Services assigned its 'B' long-term corporate credit rating to Sweden-based leisure product maker Dometic Holding AB. The outlook is stable. Standard and Poor's also assigned a recovery rating of '6' to €200 million proposed payment in kind (PIK) notes, maturing 2019, which equates to an issue rating of 'CCC+',...

Companies mentioned in this report are:
- Dometic Holding AB
- Dometic Group AB

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 READ MORE >

- Dometic Holding AB
- Dometic Group AB

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