Recovery Report: Amscan Holdings Inc.'s Recovery Ratings Profile Dec 11
- ID: 2032165
- December 2011
- Standard & Poors
As part of our ongoing surveillance, Standard & Poor's Ratings Services has completed a review of the issue-level and recovery ratings on Amscan Holdings Inc.'s senior secured term loan and senior subordinated notes. These ratings remain unchanged. Our simulated default scenario contemplates a default in 2014 due to a sharp drop in demand in party goods and heightened competition in the industry. The current capital structure consists of $350 million asset-based loans (ABL) due 2015, the seven-year $675 million senior secured term loan, and the senior unsecured $175 million senior subordinated notes. The term loans have a $175 million uncommitted accordion provided that the senior secured leverage ratio does not exceed 4x and is subject to a most-favored-nation pricing of...
Companies mentioned in this report are:
- Amscan Holdings Inc.
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