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BCBG Max Azria Group Inc. $230M Senior Secured Term Loan Assigned 'B-' Rating (Recovery Rating: 3) Jun 11
Standard & Poors, June 2011
Abstract
NEW YORK (Standard & Poor's) June 15, 2011--Standard & Poor's Ratings Services said today that it assigned a 'B-' rating, with a recovery rating of '3', to BCBG Max Azria Group Inc.'s $230 million senior secured term loan due 2015. Our '3' recovery rating indicates our expectation of meaningful (50%-70%) recovery in the event of a payment default. The rating action follows the company's completion of its proposed refinancing of its first- and second-lien debt and our receipt of final documents. (For the recovery analysis, see the recovery report on BCBG, to be published on RatingsDirect on the Global Credit Portal as soon as possible following the release of this article.) The 'B-' corporate credit rating on the company remains...
Companies mentioned in this report are: BCBG Max Azria Group Inc.
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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