DS Waters of America Inc. 'CCC+' Rating Put On Watch Positive, New Issue Rated 'B', As Company Pursues Recapitalization Jan 12
- Language: English
- Published: January 2012
- Region: America, United States
U.S.-based DS Waters of America Inc. is pursuing a recapitalization to refinance existing debt and fund a proposed acquisition. We are placing our 'CCC+' corporate credit rating on DS Waters on CreditWatch with positive implications. At the same time, we are assigning our 'B' senior secured debt rating to the company's proposed $465 million senior secured credit facilities. We intend to resolve the CreditWatch listing when the company completes its refinancing and the corresponding balance sheet recapitalization. On Jan. 23, 2012, Standard & Poor's Ratings Services placed its 'CCC+' corporate credit rating on Atlanta, Ga.-based DS Waters of America Inc. on CreditWatch with positive implications, meaning the ratings could either be raised or affirmed following the completion of our review....
Companies mentioned in this report are:
- DS Waters of America Inc.
Action: New Rating
Action: On CreditWatch:Positive
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases. SHOW LESS READ MORE >