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Compass Group Diversified Holdings' Proposed $500M Financing Rated; 'BB-' Rating Affirmed; Outlook Stable Oct 11
Standard & Poors, October 2011
Compass Group Diversified Holdings LLC has proposed a $225 million senior secured term loan B and $275 million revolver, with proceeds to be used to refinance existing debt and for potential future acquisitions. We are assigning the credit facilities our 'BB-' issue-level rating with a recovery rating of '3'. At the same time, we are affirming our ratings, including our 'BB-' corporate credit rating, on Compass. The stable rating outlook reflects our expectation that the company will maintain moderate debt leverage over the intermediate term. NEW YORK (Standard & Poor's) Oct. 3, 2011--Standard & Poor's Ratings Services said today it affirmed its ratings, including our 'BB-' corporate credit rating, on Westport, Conn.-based Compass Group Diversified Holdings LLC (Compass). The rating...
Companies mentioned in this report are: Compass Group Diversified Holdings LLC
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.
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Compass Group Diversified Holdings LLC