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
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Research type: News
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