Research Update: Dometic Holding Assigned 'B' Long-Term Corporate Credit Rtg; €200 Mil. Proposed PIK Notes Rated 'CCC+'; Outlook Stable Apr 11
- ID: 1818898
- April 2011
- Standard & Poors
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 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.
Product Type: Research Update
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