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
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