- Language: English
- 774 Pages
- Published: October 2012
- Region: Global
Research Update: Clarke American Ratings Affirmed And Off Watch, Proposed $1.9B Credit Facilities Rated 'B+' Feb 07
- Published: February 2007
- Region: United States
- Standard & Poors
On Feb. 28, 2007, Standard & Poor's Ratings Services affirmed its 'B+' corporate credit rating on Clarke American Corp. The ratings have been removed from CreditWatch with negative implications where they were placed on Dec. 20, 2006. The outlook is negative. At the same time, Standard & Poor's assigned its 'B+' bank loan rating and '3' recovery rating to the company's proposed $1.9 billion senior secured credit facilities. The credit facilities consist of a $1.8 billion term loan due seven years from closing and a $100 million revolver due six years from closing. The facilities are rated the same as the corporate credit rating, and with a recovery rating of '3', indicate the expectation for meaningful (50%-80%) recovery of principal...
Companies mentioned in this report are: Harland Clarke Holdings Corp.
Action: New Rating
Action: Removed From CreditWatch
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Harland Clarke Holdings Corp.