Sitel Worldwide Corp. 'B' Rating Affirmed; Extended Term Loan Facility Assigned 'B+' Rating (Recovery Rating: 2) Jun 11
- ID: 1823405
- June 2011
- Standard & Poors
U.S. outsourced customer care services provider Sitel amended and restated its senior secured credit facility on May 12, 2011, and achieved moderate financial covenant relief and extended over 60% of its term loan facility by three years. We are affirming our 'B' corporate credit rating on the company. We are also assigning an issue-level rating of 'B+' and a recovery rating of '2' to the extended portion of the senior secured term loan B due 2017. The negative outlook reflects our expectations of near-term challenges to improve revenue and profitability NEW YORK (Standard & Poor's) June 13, 2011--Standard & Poor's Ratings Services said today that it affirmed its rating on Nashville-based outsourced customer care services provider Sitel Worldwide Corp. (Sitel)...
Companies mentioned in this report are:
- SITEL Worldwide Corp.
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.