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American Greetings Corp. Ratings Affirmed On Proposed Refinancing; Outlook Remains Positive Nov 11
Standard & Poors, Nov 2011
Abstract
U.S. greeting card company American Greetings will refinance its senior unsecured notes early, extending its long-term debt maturity profile to 2021. We are affirming our ratings on American Greetings, including the 'BB+' corporate credit rating. The outlook is positive reflecting our expectation that operating performance will remain stable, which should allow the company to sustain its improved credit measures, possibly leading to a higher rating. CHICAGO (Standard & Poor's) Nov. 15, 2011--Standard & Poor's Rating Services said today it affirmed its corporate credit rating of 'BB+' on Ohio-based American Greetings Corp. At the same time, we affirmed our 'BBB' rating on the company's $350 million secured revolving credit facility due 2015. The recovery rating remains unchanged at '1', indicating our...
Companies mentioned in this report are: American Greetings Corp.
Action: Affirmed
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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