Baker&Taylor Acquisitions Corp. - Moody's Global Credit Research

Baker&Taylor Acquisitions Corp.

6 pages (3262 words) — Published Dec 16, 2014
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...Rating Drivers - Sustained revenue stabilization - a key rating driver - High leverage and weak interest coverage metrics, seasonality of free cash flow - Profitability is expected to remain relatively stable - Large scale distributor to retail and public/academic libraries - Adequate liquidity profile Corporate Profile Baker & Taylor Acquisitions Corp. ("Baker & Taylor"), headquartered in Charlotte, North Carolina, is a large-scale distributor of physical and digital books, and entertainment products to the retail and library & education markets. The company also offers a number of services, including inventory and collection management, cataloging and processing. Baker & Taylor was acquired in 2006 by affiliates of private equity firm Castle Harlan, Inc. and certain directors and management. In the LTM period ending September 26, 2014, the company generated approximately $1.5 billion in revenues. Rating Rationale Baker & Taylor's B3 corporate family rating reflects its high financial...

  
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Credit Opinion

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Baker&Taylor Acquisitions Corp.
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Moody's upgrades Baker & Taylor's CFR to B3; outlook stable - Rating Action – 2012/10/09 – $150.00 – Global Credit Research Rating Action 9 OCT 2012 Rating Action: Baker & Taylor Acquisitions Corp. Moody's upgrades Baker & Taylor's CFR to B3; outlook stable Approximately $440 million of long-term debt securities affected New York,...

Moody's places Baker & Taylor's CFR on review for upgrade; assigns ratings to proposed refinancing - Rating Action – 2012/09/19 – $150.00 – Global Credit Research Rating Action 19 SEP 2012 Rating Action: Baker & Taylor Acquisitions Corp. Moody's places Baker & Taylor's CFR on review for upgrade; assigns ratings to proposed refinancing Approximately $440 million of long-term...

Moody's lowers Baker & Taylor's CFR to Caa1; outlook stable - Rating Action – 2012/03/01 – $150.00 – Global Credit Research Rating Action 1 MAR 2012 Rating Action: Baker & Taylor Acquisitions Corp. Moody's lowers Baker & Taylor's CFR to Caa1; outlook stable Approximately $165 million of long-term debt securities affected New York,...

Moody's Lowers Baker & Taylor's Rating to B3; Outlook Negative - Rating Action – 2009/02/20 – $150.00 – Global Credit Research Rating Action 20 FEB 2009 Rating Action: Baker & Taylor Acquisitions Corp. Moody's Lowers Baker & Taylor's Rating to B3; Outlook Negative Approximately $165 Million of Long-Term Debt Securities Affected New York,...

Moody's changes Baker & Taylor's outlook to negative - Rating Action – 2007/11/13 – $150.00 – Global Credit Research Rating Action 13 NOV 2007 Rating Action: Baker & Taylor Acquisitions Corp. Moody's changes Baker & Taylor's outlook to negative New York, November 13, 2007 -- Moody's Investors Service changed the rating outlook...

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Moody's Global Credit Research. "Baker&Taylor Acquisitions Corp." Dec 16, 2014. Alacra Store. Dec 22, 2014. <http://www.alacrastore.com/moodys-credit-research/Baker-Taylor-Acquisitions-Corp-COP_807475426>
  
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Moody's Global Credit Research. (). Baker&Taylor Acquisitions Corp. Dec 16, 2014. New York, NY: Alacra Store. Retrieved Dec 22, 2014 from <http://www.alacrastore.com/moodys-credit-research/Baker-Taylor-Acquisitions-Corp-COP_807475426>
  
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