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Research Update: Jeld-Wen Inc. Assigned 'B' Rating; Issue Rated 'B-' (Recovery Rating: 5); Outlook Stable Oct 11 Product Image

Research Update: Jeld-Wen Inc. Assigned 'B' Rating; Issue Rated 'B-' (Recovery Rating: 5); Outlook Stable Oct 11

  • ID: 1931192
  • October 2011
  • Standard & Poors

Abstract
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

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

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