- Language: English
- 78 Pages
- Published: May 2012
- Region: United Kingdom
Recovery Report: Quality Home Brands' Recovery Rating Profile Jun 11
- Published: June 2011
- Standard & Poors
We have updated our recovery analysis for Quality Home Brands Holdings LLC as part of our surveillance. The recovery and issue-level ratings of the company's revolver and term loans remain unchanged. Our simulated default scenario contemplates a default in 2012 as a result of further lower demand due to continuous softness in the U.S. housing market. The company's current capital structure includes a $20 million first-out revolving credit facility, a $125.6 million cash-pay term loan, and a $105.9 million payment-in-kind (PIK) term loan ($117 million is currently outstanding, including PIK accretion), each due 2014. The borrower under the new first-lien credit facilities is Quality Home Brands Holdings LLC. The facilities are guaranteed by parent company QHB Holdings LLC and all...
Companies mentioned in this report are: Quality Home Brands Holdings LLC
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Quality Home Brands Holdings LLC