- Published: May 2012
- Region: Romania
Recovery Report: Ontex IV S.A. Recovery Rating Profile Sep 11
- Published: September 2011
- Standard & Poors
Belgium-based supplier of hygienic disposable products Ontex IV S.A. (Ontex) has issued €600 million cumulative senior secured notes due 2018 and €235 million senior unsecured notes due 2019. The issue rating on the cumulative €600 million senior secured notes is 'B+', in line with the long-term corporate credit rating. The recovery rating is '4', indicating our expectation of average (30%-50%) recovery for secured noteholders in an event of payment default The issue rating on the €235 million senior unsecured notes is 'B-', two notches below the corporate credit rating. The recovery rating is '6', indicating our expectation of negligible (0%-10%) recovery for noteholders in an event of payment default. We believe the group would reorganize in an event of default....
Companies mentioned in this report are:
- Ontex IV S.A.
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- Ontex IV S.A.