Sensata Technologies B.V. Rating To 'CCC+' From 'SD'; Outlook Negative Apr 09

  • ID: 2127532
  • April 2009
  • Standard & Poors
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  • Sensata Technologies B.V.
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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.

Action: Upgraded

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Research type: News
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- Sensata Technologies B.V.

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