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Sensata Technologies Ratings Affirmed; Senior Notes Assigned Ratings Jul 08 Product Image

Sensata Technologies Ratings Affirmed; Senior Notes Assigned Ratings Jul 08

  • ID: 2127412
  • July 2008
  • Standard & Poors

FEATURED COMPANIES

  • Sensata Technologies B.V.
  • MORE

Abstract
NEW YORK (Standard & Poor's) July 25, 2008--Standard & Poor's Ratings Services today assigned issue-level and recovery ratings to Sensata Technologies B.V.'s (B+/Negative/--) €141 million senior subordinated notes due 2014. We assigned a 'B-' issue-level rating, with a recovery rating of '6', indicating an expectation for negligible (0-10%) recovery in the event of a payment default. Sensata will use the proceeds of the offering to repay an outstanding bridge loan in the same amount. At the same time, Standard & Poor's affirmed its 'B+' corporate credit rating on the company. The outlook is negative. The ratings on Attleboro, Mass.-based Sensata reflect its highly leveraged financial profile, which more than offsets its satisfactory business profile. Sensata, formerly a division of Texas...

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.

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