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Reichhold Industries Inc. Corporate Credit Rating Lowered To 'B-' From 'B'; Senior Unsecured Notes To 'CCC+' Apr 09 Product Image

Reichhold Industries Inc. Corporate Credit Rating Lowered To 'B-' From 'B'; Senior Unsecured Notes To 'CCC+' Apr 09

  • ID: 2127440
  • April 2009
  • Standard & Poors

FEATURED COMPANIES

  • Reichhold Industries Inc.
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Abstract
NEW YORK (Standard & Poor's) April 24, 2009--Standard & Poor's Ratings Services said today that it lowered its corporate credit rating on Reichhold Industries to 'B-' from 'B'. The outlook is negative. At the same time we lowered our rating on the company's $195 million senior unsecured notes due 2014 to 'CCC+' from 'B-'. The recovery rating is unchanged at '5', which indicates our expectation for modest (10% to 30%) recovery in the event of a payment default. "The downgrade reflects our expectation that continued softness in both of the company's segments will result in lower volumes and weaker operating results in 2009. The downgrade also incorporates our heightened concern over liquidity if business conditions continue to deteriorate placing further...

Companies mentioned in this report are: Reichhold Industries Inc.
Action: Downgraded

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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Reichhold Industries Inc.

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