• +353-1-415-1241(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Walter Industries Inc.'s Rating Lowered To 'B+'; Secured Facility Rated 'B+' Oct 05 Product Image

Walter Industries Inc.'s Rating Lowered To 'B+'; Secured Facility Rated 'B+' Oct 05

  • Published: October 2005
  • Standard & Poors

FEATURED COMPANIES

  • Mueller Group LLC
  • Walter Energy Inc.
  • MORE

Abstract
NEW YORK (Standard & Poor's) Oct. 3, 2005--Standard & Poor's Ratings Services said today that it assigned its 'B+' senior secured debt rating and '3' recovery rating to Walter Industries Inc.'s $625 million secured bank credit facility. At the same time, we lowered our corporate credit rating on Walter Industries to 'B+' from 'BB-', and our subordinated debt rating to 'B-' from 'B', and we removed the ratings from CreditWatch, where they were placed on June 20, 2005, with negative implications. Finally, we withdrew our rating on Walter's prior $250 million secured bank credit facility. The rating actions on Walter, a Tampa, Fla.-based diversified industrial company, follow the completion of our review of the terms and conditions of the company's...

Companies mentioned in this report are:
- Walter Energy Inc.
- Mueller Group LLC

Action: Downgraded
Action: New Rating
Action: Removed From CreditWatch

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 READ MORE >

- Walter Energy Inc.
- Mueller Group LLC

Format Properties
Electronic The report will be emailed to you.
Note: Product cover images may vary from those shown
More

RELATED PRODUCTS