Research And Markets Research And Markets

Recovery Report: CST Industries Inc.'s Recovery Rating Profile Aug 11

  • ID: 1856977
  • August 2011
  • Standard & Poors
1 of 3

Standard & Poor's Ratings Services has updated our recovery analysis on U.S.-based CST Industries Inc.'s senior secured credit facility in conjunction with our downgrade of the corporate credit rating. Our simulated default scenario contemplates a default occurring in 2012 as the result of a sustained cyclical downturn resulting in customers delaying or suspending replacement and new purchase of storage tanks and covers. Under our simulated default scenario, we assumed CST would remain a viable business because of its good market position in storage tank manufacturing and its relatively diverse customer base. CST Industries Inc.'s (CST) capital structure consists of a $20 million senior secured revolving credit facility, a $155 million senior secured term loan with about $130 million outstanding, and...

Companies mentioned in this report are: CST Industries 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

Note: Product cover images may vary from those shown
2 of 3

CST Industries Inc.

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown