Aquilex Holdings LLC Rating Lowered To 'D' From 'CC'; Issue Ratings Lowered After Company Misses Interest Payment Dec 11
- Language: English
- Published: December 2011
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
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Research type: News
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