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Recovery Report: Rite Aid Corp.'s Recovery Rating Profile Feb 13

  • ID: 2417075
  • February 2013
  • Standard & Poors
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Standard & Poor's Ratings Services has updated its recovery analysis on Camp Hill, Pa.-based pharmacy operator Rite Aid Corp. following the company's partial refinancing of its capital structure. The recovery and issue-level ratings remain unchanged. Our recovery analysis simulates a default occurring in 2015 because of increased competition that occurs amid a significant decline in the economy. Rite Aid Corp.'s capital structure comprises secured debt (first-lien and second-lien), unsecured debt with subsidiary guarantees, and unsecured debt without subsidiary guarantees. Rite Aid's secured debt consists of a $1.75 billion revolving credit facility maturing in 2018, a $333 million tranche 5 term loan maturing in 2018, and a $900 million tranche 6 term loan maturing in 2020. The company is also the...

Companies mentioned in this report are:
- Rite Aid Corp.

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

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- Rite Aid Corp.

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