Rocket Software Inc. Assigned Preliminary 'B+' Corporate Credit Rating; First-Lien Facilities Rated 'BB' (Prelim) Jan 12
- Language: English
- Published: January 2012
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
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Research type: News
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Post Holdings Inc.,Ralcorp Holdings Inc.