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Recovery Report: Sensata Technologies B.V. 's Recovery Rating Profile Feb 10
Standard & Poors, February 2010
On Feb. 1, 2010, Standard & Poor's Ratings Services' raised the issue-level ratings on Sensata Technologies B.V.'s debt. We raised the rating on the senior secured debt to 'B+' (two notches above the 'B-' corporate credit rating) from 'B'. The recovery rating on this debt is '1', indicating our expectation of very high (90%-100%) recovery in a payment default scenario. 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. A first-priority lien on all assets of the borrower and guarantors secure the senior secured credit facilities. Standard & Poor's also raised the issue-level ratings on the company's senior notes and...
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.