Recovery Report: B&G Foods Inc.'s Recovery Rating Profile Nov 11
- ID: 1953117
- November 2011
- Standard & Poors
Standard & Poor's Ratings Services has assigned issue-level and recovery ratings to Parsippany, N.J.-based B&G Foods Inc.'s proposed $500 million first-lien senior secured credit facilities. We assigned our 'BB' issue-level ratings to the company's proposed $100 million revolving credit facility due 2016, $100 million term loan A due 2016, and $300 million term loan B due 2018. The recovery rating is '1', indicating our expectation for very high (90% to 100%) recovery in the event of a payment default. We will withdraw the ratings on the company's existing $25 million revolving credit facility and $130 million term loan due 2013 following the close of the transaction. The 'B+' ratings on the company's $350 million senior unsecured notes outstanding due 2018...
Companies mentioned in this report are:
- B&G Foods Inc.
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Research Type: Full Analysis