Research Update: Blue Buffalo Co. Assigned Preliminary 'B' Rating, Stable Outlook; New Term Loan Will Fund Special Shareholder Dividend Jul 12
- Language: English
- Published: July 2012
U.S.-based pet food company Blue Buffalo Co. Ltd. is entering into a new senior secured credit facility with the intent of using term loan proceeds to fund a special shareholder dividend. We are affirming the preliminary corporate credit rating and the preliminary issue-level rating on the company's proposed $390 million senior secured credit facility (reduced from an initially proposed $470 million). We are revising the outlook to positive, reflecting our expectation that Blue Buffalo will maintain adequate liquidity while continuing to improve its operating performance and strengthening its credit measures over the near term. NEW YORK (Standard & Poor's) Aug. 2, 2012--Standard & Poor's Ratings Services today affirmed its preliminary 'B' corporate credit rating on Wilton, Conn.-based Blue Buffalo Co....
Companies mentioned in this report are: Blue Buffalo Company, Ltd
Action: New Rating
Action: Outlook: Positive
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Research type: News
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Blue Buffalo Company, Ltd