Recovery Report: Coinstar Inc.'s Recovery Rating Profile Jun 11
Standard & Poors, June 2011
Abstract
Standard & Poor's Ratings Services has completed its review of the recovery and issue-level ratings assigned to Bellevue, Wash.-based Coinstar Inc.'s $200 million convertible senior notes. All ratings are unchanged. Our recovery analysis incorporates a simulated default scenario that contemplates a default occurring in 2014 as a result of a challenging economy and competitive pressure from banks and other retailers, thereby reducing traffic to the company's coin-counting machines, as well as technological advances in the domestic home media entertainment industry within the Redbox division that make kiosks obsolete. Coinstar's capital structure consists of a $400 million revolving credit facility due 2012 (unrated) and $200 million 4% convertible senior notes due 2014. The revolving credit facility is secured by a first-priority...
Companies mentioned in this report are:
- Coinstar Inc.
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: Full Analysis
- Coinstar Inc.
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