Post Holdings Inc.'s Sr Secured Credit Facilities Assigned 'BB' (Prelim) Rating; 'B+' (Prelim) Corp Credit Rtg Assigned Jan 12
- ID: 2040241
- January 2012
- Standard & Poors
SAN FRANCISCO (Standard & Poor's) Jan. 9, 2012--Standard & Poor's Ratings Services today assigned its preliminary 'B+' corporate credit rating to St. Louis-based Post Holdings Inc., a manufacturer of ready-to-eat (RTE) cereal. We assigned our preliminary 'BB' issue-level ratings to Post's proposed $350 million senior secured credit facilities, which consist of a $175 million revolving credit facility and $175 million term loan A, both of which are due in five years. The preliminary recovery rating on these facilities is '1', indicating our expectation for very high (90% to 100%) recovery in the event of a payment default. The outlook is stable. These ratings are based on preliminary terms and are subject to review upon the receipt of final documentation. We...
Companies mentioned in this report are: Post Holdings Inc.,Ralcorp Holdings Inc.
Action: New Rating
Action: Outlook: Stable
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.