Sensata Technologies B.V. Rating To 'CCC+' From 'SD'; Outlook Negative Apr 09
- ID: 2127532
- April 2009
- Standard & Poors
NEW YORK (Standard & Poor's) April 1, 2009--Standard & Poor's Ratings Services today raised its corporate credit rating on Attleboro, Mass.-based Sensata Technologies B.V. to 'CCC+' from 'SD'. The outlook is negative. At the same time, we raised our issue-level rating on Sensata's subordinated debt issues to 'CCC-' (two notches lower than the 'CCC+' corporate credit rating on the company) from 'D'. The recovery rating on these securities remains at '6', indicating our expectation for negligible (0% to 10%) recovery for lenders in the event of a payment default. We affirmed the 'B' issue-level rating on company's senior secured debt and removed the rating from CreditWatch, where it was placed with negative implications on March 3, 2009. The recovery rating...
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: 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.