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Recovery Report: Inmar Inc.'s Recovery Rating Profile Jul 11

  • ID: 1869513
  • July 2011
  • Standard & Poors
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In conjunction with the dividend recapitalization of Winston-Salem, N.C.-based Inmar Inc., Standard & Poor's Ratings Services has assigned preliminary recovery and issue-level ratings to the company's revolver and term loan. Our simulated default scenario contemplates a default in 2014 due to a steep decline in revenue and income as customers bring functions in-house or aggressively renegotiate current contracts to control costs in a challenging economy. We believe the company would reorganize in the event of a default because of its leading market position in the complementary reverse logistics and promotions services industries. Inmar's proposed capital structure will consist of a $240 million senior secured credit facility, bifurcated between a $30 million revolving credit facility due 2016 and a $210 million...

Companies mentioned in this report are: Inmar 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

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Inmar Inc.

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