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Blount Inc.?s Amended $700 Million Credit Facility Rated 'BB-' (Recovery Rating: '3') Jun 11
Standard & Poors, June 2011
Abstract
NEW YORK (Standard & Poor's) June 14, 2011--Standard & Poor's Ratings Services said today that it assigned its 'BB-' issue-level rating and '3' recovery rating to Blount Inc.'s amended and restated $700 million credit facility. The five-year facility consists of a $400 million revolver (up from $75 million) and $300 million term loan A (up from $75 million). Proceeds will be used to retire the outstanding $274 million under the existing term loan B. (See the recovery report on Blount Inc. to be published later on RatingsDirect Global).Co-borrowers are Omark Properties Inc. and Windsor Forestry Tools LLC. The ratings on Portland, Ore.-based Blount Inc. (a wholly owned subsidiary of unrated Blount International Inc.) reflect the company's aggressive financial risk profile...
Companies mentioned in this report are: Blount Inc.,Omark Properties Inc.,Windsor Forestry Tools LLC
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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