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Sensata Technologies B.V. Rated 'B+'; Senior Secured Debt Rated 'BB-', Recovery Rating '1' Apr 06

  • ID: 2127350
  • April 2006
  • Standard & Poors
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  • Sensata Technologies B.V.
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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

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Research type: News
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- Sensata Technologies B.V.

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