• 1-800-526-8630U.S. (TOLL FREE)
  • 1-917-300-0470EAST COAST U.S.
  • +353-1-416-8900REST OF WORLD
Research Update: U.K.-Based Food Group Boparan Holdings Assigned 'B+' Long-Term Corporate Credit Rating; Outlook Stable Apr 11 Product Image

Research Update: U.K.-Based Food Group Boparan Holdings Assigned 'B+' Long-Term Corporate Credit Rating; Outlook Stable Apr 11

  • ID: 1819156
  • April 2011
  • Region: United Kingdom, Great Britain
  • Standard & Poors

Abstract
U.K.-based food processing group Boparan Holdings Ltd. (Boparan) is refinancing its existing debt and raising additional capital following its acquisition of Northern Foods PLC. We are assigning our 'B+' long-term corporate credit rating to Boparan. We are also assigning a 'B+' issue rating and a recovery rating of '3' to the proposed -695 million senior unsecured notes borrowed by Boparan. The stable outlook reflects our view of Boparan's resilient business model in the current tough recessionary environment and its ability to generate sustainable positive free cash flow. On April 7, 2011, Standard & Poor's Ratings Services assigned its 'B+' long-term corporate credit rating to U.K.-based food processing group Boparan Holdings Ltd. (Boparan). The outlook is stable. At the same time,...

Companies mentioned in this report are: Boparan Holdings Ltd.
Action: New Rating
Action: Outlook: Stable

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 READ MORE >

Note: Product cover images may vary from those shown

RELATED PRODUCTS