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Recovery Report: Delphi Corp.'s Recovery Rating Profile Jun 11 Product Image

Recovery Report: Delphi Corp.'s Recovery Rating Profile Jun 11

  • Published: June 2011
  • Standard & Poors

FEATURED COMPANIES

  • Delphi Automotive LLP
  • Delphi Corp.
  • MORE

Abstract
Standard & Poor's Ratings Services is assigning recovery ratings to Troy, Mich.-based automotive supplier Delphi Corporation's (Delphi) new senior secured $1.2 billion revolving credit facility maturing 2016, $258 million term loan A maturing 2016, and $950 million term loan B maturing 2017. Delphi Corp. is a unit of Delphi Automotive LLP (BB/Stable/--). We are also assigning recovery ratings to Delphi's $500 million of senior unsecured notes due 2019 and $500 million of senior unsecured notes due 2021. The company used the proceeds from the term loans and the notes to purchase common stock that had been distributed to General Motors Corp. and the Pension Benefit Guaranty Corp. when Delphi emerged from bankruptcy on Oct. 6, 2009. Our simulated default scenario...

Companies mentioned in this report are:
- Delphi Automotive LLP
- Delphi Corp.

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 READ MORE >

- Delphi Automotive LLP
- Delphi Corp.

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