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Recovery Report: Sensata Technologies B.V.'s Recovery Rating Profile May 09
Standard & Poors, May 2009
Standard & Poor's Ratings Services' issue-level rating on Sensata Technologies B.V.'s senior secured debt is 'B' (two notches above the 'CCC+' corporate credit rating on the company). The recovery rating on this debt is '1', indicating an expectation of very high (90%-100%) recovery in the event of a payment default. The senior secured debt, which is all pari passu, consists of a $150 million revolving credit facility, a -392 million term loan facility, and a $950 million term loan. The issue-level ratings on the company's 8% senior notes due 2014 and senior subordinated Euro notes are 'CCC-' (two notches below the 'CCC+' corporate credit rating on the company) for both respective classes of debt. The recovery ratings on this debt...
Companies mentioned in this report are: Sensata Technologies B.V.
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
Sensata Technologies B.V.