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
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.