Recovery Report: DBO Holdings Inc.'s Recovery Rating Profile Jul 10
- ID: 1869529
- July 2010
- Standard & Poors
Standard & Poor's Ratings Services is updating the recovery analysis on DBO Holdings Inc. in connection with our resolution of the CreditWatch listing on the company's ratings. Our issue-level and recovery ratings remain unchanged. Our simulated default scenario contemplates a default occurring in 2013 in the wake of a protracted economic recession that leads to a significant decline in nonresidential construction, one of the company's key end markets. Our recovery analysis reflects the following capital structure: Asset-based (ABL) revolving credit facility due 2011. The borrowers under the ABL facility are John Maneely Co. (JMC) and 6582125 Canada Inc. (the Canadian ABL borrower). Up to $300 million is available to JMC and up to $100 million is available to the Canadian...
Companies mentioned in this report are: JMC Steel Group Inc.
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Research Type: Full Analysis