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Recovery Report: PolyOne Corp.'s Recovery Rating Profile Mar 08 Product Image

Recovery Report: PolyOne Corp.'s Recovery Rating Profile Mar 08

  • ID: 2086582
  • March 2008
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services today assigned recovery ratings to PolyOne Corp.'s unsecured notes, while leaving the issue-level rating on this debt unchanged. The issue-level rating on PolyOne's 8.875% notes due 2012 is 'B+' (the same as the corporate credit rating on the company), and a recovery rating of '4' was assigned to this debt, indicating the expectation for average (30% to 50%) recovery in the event of a payment default. PolyOne also has a guarantee and security agreement and several unsecured debt issuances, which we do not rate. Our simulated default scenario envisions business declines over the next few years due to the company's high concentration in the housing and auto sectors, which account for approximately one-third of its...

Companies mentioned in this report are: PolyOne Corp.

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: Full Analysis

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PolyOne Corp.

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