Research Update: Post Holdings Inc.'s Senior Secured Credit Facilities Rated 'BB' (Prelim) ; 'B+' (Prelim) Corporate Credit Rtg Assigned Jan 12
- Language: English
- Published: January 2012
Standard & Poor's Ratings Services has assigned preliminary issue-level and recovery ratings to St. Louis -based Post Holdings Inc.'s proposed $775 million senior unsecured notes issue. We assigned our preliminary 'B+' issue rating to the company's proposed $775 million 10-year senior unsecured notes issue due 2022. The preliminary recovery rating is '4', indicating our expectation for average (30% to 50%) recovery in the event of a payment default. All ratings are based on preliminary terms and closing conditions and are subject to review upon receipt of final documentation. The ratings on the company's proposed $350 million senior secured remain preliminary at 'BB'. The preliminary recovery rating is '1', indicating our expectation for very high (90% to 100%) recovery in the...
Companies mentioned in this report are: Post Holdings Inc.
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: Full Analysis