Sensata Technologies B.V. Rated 'B+'; Senior Secured Debt Rated 'BB-', Recovery Rating '1' Apr 06
- ID: 2127350
- April 2006
- Standard & Poors
NEW YORK (Standard & Poor's) April 6, 2006--Standard & Poor's Ratings Services said today that it assigned its 'B+' corporate credit rating to Sensata Technologies B.V., a global manufacturer of customized, engineered sensors and controls. The company, which is domiciled in the Netherlands, has executive headquarters in Attleboro, Mass. Sensata, formerly the S&C business of Texas Instruments Inc., is being acquired by Bain Capital LLC, a coinvestor, and by Sensata management. Proceeds from a bank credit facility and note offerings, together with $985 million of cash equity, will be used to acquire the firm for $3 billion. The purchase price represents a 9.9x EBITDA purchase price multiple based on the company's pro forma 2005 adjusted EBITDA plus fees and expenses....
Companies mentioned in this report are:
- Sensata Technologies B.V.
Action: New 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.