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Recovery Report: Visteon Corp.'s $1.5 Billion Secured Term Loan Facilities Mar 07

  • ID: 2027480
  • March 2007
  • Standard & Poors
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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.

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

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Visteon Corp.

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