- Language: English
- Published: July 2013
- Region: China
Recovery Report: Capital Safety Group's Recovery Rating Profile Dec 11
- Published: December 2011
- Standard & Poors
Standard & Poor's Ratings Services has assigned preliminary issue-level ratings and preliminary recovery ratings to Red Wing, Minn.-based Capital Safety Group's (CSG's) senior secured credit facilities. Proceeds from this senior secured credit facilities issuance, together with proceeds from $175 million proposed private placement senior unsecured notes (unrated) and $612 million of common equity from Kohlberg Kravis Roberts & Co. L.P. (KKR), will be used to fund the acquisition of the company. Our simulated default scenario assumes that the company will default in 2016 because of a combination of an unexpected decline of business activities in key end markets and increasing competition and marketing efforts from major competitors in the fall protection equipment segment. On a pro forma basis, the debt...
Companies mentioned in this report are: Capital Safety Group
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Capital Safety Group