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Recovery Report: Del Monte Corp. Recovery Rating Profile Aug 10

  • ID: 2034495
  • August 2010
  • Standard & Poors
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Standard & Poor's Rating Services concluded a review of Del Monte Corp.'s issue and recovery ratings, and the recovery ratings remain unchanged. Our simulated default scenario contemplates a default in 2014 as a result of intensified competition from private label, significant loss of shelf space with major retailers, and higher commodity costs. We believe the company would reorganize in the event of default due to its viable business model, strong brand names, leading markets shares, and broad product portfolios in consumer and pet foods categories. Del Monte Corp. is the issuer of the senior secured facilities including a $500 million revolver and a $600 million Term Loan A, and the $250 million 6.75% and the $450 million 7.5% Senior Subordinated...

Companies mentioned in this report are: Del Monte Corp. (Old),Del Monte 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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Del Monte Corp. (Old),Del Monte Corp.

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