- Language: English
- Published: December 2012
- Region: Jordan
Research Update: Pro Mach Inc. Assigned Preliminary 'B+' Corporate Credit Rating; Credit Facilities Also Rated; Outlook Stable Jun 11
- Published: June 2011
- Standard & Poors
Ohio-based packaging solutions provider Pro Mach Inc. has announced plans for a new $255 million senior secured credit facility. The facility will include a $35 million five-year revolving credit facility and a $220 million six-year term loan. The proceeds will be used for the sale of Pro Mach to The Resolute Fund II L.P., an affiliate of private equity sponsor The Jordan Company and to refinance existing debt. We are assigning a preliminary 'B+' corporate credit rating to Pro Mach. We are also assigning a preliminary 'B+' issue-level rating and a preliminary '3' recovery rating to the company's proposed new $255 million senior secured credit facility. The stable outlook reflects our expectation that the company will operate within credit measures...
Companies mentioned in this report are:
- Pro Mach Inc.
Action: Preliminary 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.
Product Type: Research Update
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- Pro Mach Inc.