On March 27, 2007, Standard & Poor's Ratings Services assigned its 'B+' rating and '1' recovery rating to auto supplier Visteon Corp.'s proposed $500 million new senior secured term loan tranche, which would increase the size of the company's total term loan facilities to $1.5 billion from $1 billion. At the same time, Standard & Poor's raised its bank loan and recovery ratings on Visteon's existing $1 billion term loan facility, reflecting the proposed addition of new collateral that would support the existing and new tranches. The bank loan rating on the existing term loan facility is raised to 'B+' from 'B,' while the recovery rating is raised to '1' from '2.' The 'B+' bank loan ratings on both term...
Companies mentioned in this report are: Visteon Corp.
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