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Realogy 'CC' Rating On Watch Positive; Preliminary Ratings Assigned To Proposed Extending Credit Facility Jan 11
Standard & Poors, January 2011
U.S. real estate and relocation services company Realogy is extending its credit facility and intends to issue a new senior secured debt financing. We are placing all existing ratings for the company, including the 'CC' corporate credit rating, on CreditWatch with positive implications. We are also assigning our preliminary 'B-' issue-level rating and preliminary '1' recovery rating to Realogy's proposed extending senior secured credit facility. The CreditWatch listing reflects that we expect to raise the company's corporate credit rating to 'CCC' with a positive rating outlook upon the closing of the extending credit facility and the proposed senior secured debt financing. NEW YORK (Standard & Poor's) Jan. 18, 2011--Standard & Poor's Ratings Services today placed its 'CC' corporate credit and...
Companies mentioned in this report are:
- Realogy Group LLC
Action: New Rating
Action: On CreditWatch:Positive
Action: Preliminary Rating
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
- Realogy Group LLC