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Audatex Holdings LLC Corporate Credit Rated 'B+'; Outlook Is Negative Mar 06
Standard & Poors, March 2006
Abstract
NEW YORK (Standard & Poor's) March 17, 2006--Standard & Poor's Ratings Services said today that it assigned its 'B+' corporate credit rating to San Diego, Calif.-based Audatex Holdings LLC. At the same time, Standard & Poor's assigned its 'B+' rating, with a recovery rating of '2', to Audatex's proposed $530 million first-lien senior secured bank facility, which will consist of a $50 million revolving credit facility (due 2012) and a $480 million term loan (due 2013). Standard & Poor's also assigned its 'B-' rating, with a recovery rating of '5', to Audatex's proposed $215 million second-lien senior secured term loan, due in 2013. The outlook is negative. The first-lien bank loan rating, which is the same as the corporate credit...
Companies mentioned in this report are: Solera Holdings Inc.
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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