• SELECT SITE CURRENCY
Select a currency for use throughout the site
Deluxe Entertainment Services Group Inc. Upgraded To 'B' After Credit Facilities Refinanced; Term Loan Rated 'B+' Jan 12
Standard & Poors, January 2012
U.S. media and entertainment services company Deluxe Entertainment refinanced its first- and second-lien credit facilities with a new $475 million term loan and a new (unrated) $100 million asset-based revolving credit facility. Refinancing the credit facilities improves liquidity because it pushes out the company's maturities. We are raising our corporate credit rating to 'B' with a stable outlook and removing the ratings from CreditWatch with developing implications. We are also assigned the new term loan a 'B+' rating with a recovery rating of '2.' The stable outlook reflects our expectation that liquidity will be adequate for at least the next 12 months. NEW YORK (Standard & Poor's) Jan. 6, 2012--Standard & Poor's Ratings Services said today that it raised its...
Companies mentioned in this report are: Deluxe Entertainment Services Group Inc.
Action: New Rating
Action: Outlook: Stable
Action: Removed From CreditWatch
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Deluxe Entertainment Services Group Inc.