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Recovery Report: Stanadyne Corp.'s Recovery Rating Profile Mar 12 Product Image

Recovery Report: Stanadyne Corp.'s Recovery Rating Profile Mar 12

  • Published: March 2012
  • Standard & Poors

FEATURED COMPANIES

  • Stanadyne Corp.
  • Stanadyne Holdings Inc.
  • MORE

Abstract
Standard & Poor's Ratings Services' has reviewed the recovery analysis on Windsor, Conn.-based Stanadyne Corp.'s senior subordinated notes and parent Stanadyne Holdings Inc.'s senior subordinate discount notes, in conjunction with our outlook revision. Our issue-level and recovery ratings remain unchanged. Our simulated default scenario contemplates lower-than-expected revenues and cash flow resulting from a depressed economy and loss of key customers. We believe that if Stanadyne defaulted, a viable business model would remain, and that lenders would achieve the greater recovery value through reorganization rather than through liquidation. At the end of third–quarter 2011, Stanadyne Corp. had $10.3 million drawn under a recently upsized $55.8 million asset-backed revolving credit facility (ABL), which is senior to its other debt, maturing in 2014....

Companies mentioned in this report are:
- Stanadyne Corp.
- Stanadyne 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 READ MORE >

- Stanadyne Corp.
- Stanadyne Holdings Inc.

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