Recovery Report: Lender Processing Services Inc.'s Recovery Rating Profile Aug 10
- ID: 1871785
- August 2010
- Standard & Poors
There are no changes to Lender Processing Services Inc.'s recovery or issue-level ratings. Standard & Poor's Ratings Services is updating our recovery report as part of an annual review process. The company made material prepayments on its term loan A in 2009. These prepayments did not affect recovery on the first-lien debt, which was already in the '1' category, nor were they substantial enough to improve the recovery of the unsecured debt beyond the '3' recovery rating category. Standard & Poor's simulated default scenario envisions a sustained period of weakness in the mortgage market and increased competition. Lender Processing Services Inc. is the borrower of all the debt in the consolidated company's capital structure. The company has prepaid $105 million...
Companies mentioned in this report are: Lender Processing Services 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