Research Update: Jeld-Wen Inc. Assigned 'B' Rating; Issue Rated 'B-' (Recovery Rating: 5); Outlook Stable Oct 11
- ID: 1931192
- October 2011
- Standard & Poors
U.S.-based manufacturer and distributor of window and door products JELD-WEN Inc. (JELD-WEN) has entered into a new $300 million revolving credit facility and also closed on its $460 million senior secured notes due 2017. We have assigned a 'B' corporate credit rating to Jeld-Wen Inc. We also assigned a 'B-' issue rating to Jeld-Wen's $460 million senior secured notes due 2017. The stable rating outlook reflects our belief that JELD-WEN will maintain adequate liquidity and cash interest coverage in excess of 1.5x, despite what we expect will be a difficult operating environment over the next several quarters. On Oct. 6, 2011, Standard & Poor's Ratings Services assigned its 'B' corporate credit rating to Klamath Falls, Ore.-based Jeld-Wen Inc. At the...
Companies mentioned in this report are:
- Jeld-Wen Inc.
Action: New Rating
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Product Type: Research Update
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