- Language: English
- 78 Pages
- Published: May 2012
- Region: United Kingdom
Research Update: SRAM LLC First- And Second-Lien Credit Facilities Assigned 'B+' Rating (Recovery Rating: 4) Jun 11
- Published: June 2011
- Standard & Poors
U.S. bicycle components maker SRAM recently closed on a new $655 million first-lien credit facility and a $185 million second-lien term loan. The company used the proceeds from the new credit facilities to refinance existing indebtedness and repurchase the ownership interests of Trilantic Capital Partners. We are assigning ratings to the first- and second-lien senior secured credit facilities. The positive rating outlook reflects our belief that the successful completion of a recently proposed initial public offering (IPO) could result in debt repayment sufficient to reduce leverage to a level supportive of a one-notch upgrade. On June 17, 2011, Standard & Poor's Ratings Services assigned issue-level ratings to the SRAM LLC's first- and second-lien senior secured credit facilities. We assigned our...
Companies mentioned in this report are:
- SRAM LLC
Action: New Rating
Action: Outlook: Positive
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
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases. SHOW LESS READ MORE >
|Electronic||The report will be emailed to you.|