Research Update: Bellisio Foods Inc. Senior Secured Credit Facilities Assigned 'B' Issue-Level Ratings; 'B' Corp Credit Rating Affirmed Feb 12
- ID: 2083684
- February 2012
- Standard & Poors
Centre Partners has acquired the majority stake of U.S.-based Bellisio Foods Inc. and the company refinanced its senior secured credit facilities. We affirmed our 'B' corporate credit rating on Bellisio Foods Inc., the borrower of the senior secured facilities and where the company's financial statements are expected to be filed. We are withdrawing the ratings on the company's prior senior secured credit facilities, as well as our preliminary 'B' corporate credit rating on Bellisio Parent LLC, Bellisio Foods Inc.'s new parent company, following our review of the final legal structure of the company. We assigned 'B' ratings to the company's $200 million senior secured credit facilities and recovery ratings of '3'. The stable outlook reflects our opinion that Bellisio will...
Companies mentioned in this report are: Bellisio Foods Inc.,Bellisio Parent, LLC
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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