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Securitas Direct Owner Verisure Holding Assigned 'B' Long-Term Rating; Outlook Stable Feb 12
Standard & Poors, February 2012
Sweden-based residential security services group Securitas Direct AB was recently acquired by the current management team and private equity firms Bain Capital and Hellman & Friedman for about Swedish krona (SEK) 21 billion. We are assigning our 'B' long-term corporate credit rating to Verisure Holding AB, the intermediate holding company of Securitas Direct. We are also assigning issue ratings of 'B' and 'CCC+' to the proposed senior secured first-lien notes A and second-lien senior secured loan B, respectively. The stable outlook reflects our view that penetration rates for residential security alarm services in Europe will continue to increase, thereby improving Securitas Direct's long-term profitability. LONDON (Standard & Poor's) Feb. 6, 2012--Standard & Poor's Ratings Services said today that it assigned...
Companies mentioned in this report are: Verisure Holding AB
Action: New Rating
Action: Outlook: Stable
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.
Verisure Holding AB