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Aquilex Holdings Rated 'B', Aquilex Acquisition's Credit Facility Rated 'BB-' Nov 08 Product Image

Aquilex Holdings Rated 'B', Aquilex Acquisition's Credit Facility Rated 'BB-' Nov 08

  • Published: November 2008
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Nov. 20, 2008--Standard & Poor's Ratings Services said today that it assigned its 'B' corporate credit rating to Atlanta, Georgia-based Aquilex Holdings LLC. The outlook is stable. At the same time, Standard & Poor's assigned its 'BB-' rating and a recovery rating of '1' to Aquilex Acquisition Sub III LLC's proposed $310 million senior secured first-lien bank facilities, reflecting our expectation of very high (90%-100%) recovery in the event of a payment default. The proposed first-lien credit facilities consist of a $50 million revolving credit facility due 2013, $50 term loan A due 2012, and $210 million term loan B due 2013. The ratings on the credit facilities are based on preliminary terms and conditions....

Companies mentioned in this report are:
- Aquilex Holdings LLC

Action: New Rating

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 READ MORE >

- Aquilex Holdings LLC

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