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Research Update: NCO Group 'CCC+' Rating Affirmed, Off CreditWatch, Outlook Negative; Rating On Expert Global Solutions Withdrawn Dec 11 Product Image

Research Update: NCO Group 'CCC+' Rating Affirmed, Off CreditWatch, Outlook Negative; Rating On Expert Global Solutions Withdrawn Dec 11

  • Published: December 2011
  • Standard & Poors

Abstract
NCO Group has announced that it is not proceeding with its previously proposed $300 million senior notes offering, citing unfavorable rates. We are affirming our 'CCC+' issuer credit rating on NCO and removing the rating from CreditWatch with positive implications. The outlook is negative. We are also withdrawing our preliminary 'B' issuer credit rating on Expert Global Solutions LLC, our preliminary 'B' rating on NCO's proposed $120 million revolving credit facility and $750 million senior secured bank loan, and our preliminary 'CCC+' rating on its proposed $300 million senior notes. The negative outlook reflects the company's weak financial performance, high debt levels, and significant debt maturities in the next two years. On Dec. 15, 2011, Standard & Poor's Ratings Services...

Companies mentioned in this report are:
- Expert Global Solutions Inc.
- Expert Global Solutions LLC

Action: Affirmed
Action: Outlook: Negative
Action: Removed From CreditWatch
Action: Withdrawn

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, READ MORE >

- Expert Global Solutions Inc.
- Expert Global Solutions LLC

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