Recovery Report: Water Pik Inc.'s Recovery Rating Profile Oct 11
Standard & Poors, October 2011
Abstract
We are assigning our issue-level and recovery ratings to Water Pik Inc.'s senior secured credit facility. The issue level and recovery ratings are based on the company's reduced credit facility size. Our simulated default scenario contemplates a default in 2014, stemming from heightened competitive pressure coupled with general weak consumer spending. The capital structure consists of a five-year $20 million revolver and a six-year senior secured term loan of $140 million. The term loan amortizes at 1% per year. There is a $40 million incremental facility. The borrower of the proposed senior secured credit facilities is Water Pik Inc., a Fort Collins, Colo.-based branded consumer and professional oral health products and shower head supplier. The guarantors are the holding company...
Companies mentioned in this report are: Water Pik 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 holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Water Pik Inc.
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW5
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
