- Language: English
- 175 Pages
- Published: July 2010
- Region: United States
CCS Inc. Rated 'B+'; Bank Financing Rated 'BB-' (Recovery Rating: '2'); Outlook Stable Oct 07
- Published: October 2007
- Standard & Poors
TORONTO (Standard & Poor's) Oct. 22, 2007--Standard & Poor's Ratings Services today said it assigned its 'B+' long-term corporate credit rating to Calgary, Alta.-based oilfield services provider CCS Inc. At the same time, Standard & Poor's assigned its 'B-' senior unsecured debt rating to the proposed C$600 million eight-year notes. Standard & Poor's also assigned its 'BB-' rating with a recovery rating of '2' to CCS's proposed, seven-year, C$1.3 billion term loan facility; C$100 million delayed draw seven-year term loan facility; and C$500 million revolving credit facility. The '2' recovery rating indicates an expectation of substantial recovery (70%-90%) in a default scenario. The outlook is stable. "The ratings on CCS reflect the company's aggressively leveraged balance sheet following the proposed...
Companies mentioned in this report are:
- Tervita Corp.
Action: New Rating
Action: Outlook: Stable
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
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- Tervita Corp.
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