- Language: English
- Published: December 2011
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.
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: Full Analysis