Research Update: e-Rewards Senior Secured Facility Rated Preliminary 'B' (Preliminary Recovery Rating: 3) Oct 13
- Language: English
- Published: October 2013
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.
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Research Type: Full Analysis
Post Holdings Inc.