• +353-1-416-8900(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Recovery Report: SonicWALL Inc.'s Recovery Rating Profile Sep 11 Product Image

Recovery Report: SonicWALL Inc.'s Recovery Rating Profile Sep 11

  • Published: September 2011
  • Standard & Poors

Standard & Poor's Ratings Services is updating its recovery analysis on network security provider SonicWALL Inc. following the upgrade of the company to 'B+' from 'B'. We raised the issue-level ratings on the company's existing facilities in conjunction with the upgrade while keeping the recovery ratings unchanged. Our simulated default scenario contemplates a default occurring in 2015, reflecting heightened competition leading to increased pricing pressure, lagging product development, or major services failure. The company has made meaningful prepayments on the first-lien term loan, which reduced the outstanding amount to $95 million. In our analysis, we assumed no more scheduled amortizations because of these prepayments. The revolver and first-lien term loan are guaranteed by PSM Holdings II Inc. (Holdings), the company's...

Companies mentioned in this report are: SonicWALL 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 READ MORE >

SonicWALL Inc.

Note: Product cover images may vary from those shown