Report title: Leveraged Finance Weekly
from Fitch Research
19 page (10592 word) report published Jun 26, 2009

Price $275.00 available for immediate download
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...Fitch Ratings affirmed the following ratings on BCF: issuer default rating (IDR) at `B¡'; $800 million asset-based revolver at `B+/RR1'; $900 million term loan at `B/RR3'. In addition, Fitch revised its ratings on the following to reflect the new issue rating definitions as of March 2009: $305 million senior unsecured notes revised to `CC/RR6' from `CCC/RR6'; $99 million senior discount notes revised to `C/RR6' from `CCC¡/RR6'. The company had approximately $1.3 billion of debt outstanding as of Feb. 28, 2009. The Rating Outlook has been revised to Stable from Negative. The Outlook revision reflects BCF's improving operating performance, positive free cash flow generation and adequate liquidity. The ratings continue to reflect BCF's solid brand recognition as a discounter of apparel and home products with significant geographic reach as well as the company's negative comparable store sales, high leverage and intense competition in the discounted apparel and home furnishings segments. BCF's...

Report Type: Newsletter
Company(ies): Synovus Financial Corporation, FairPoint Communications, Inc., Burlington Coat Factory Warehouse Corp, Level 3 Communications, Inc., Delta Air Lines, Inc., Univision Communications, Inc., Solo Cup Company
Ticker(s): DAL , LVLT , SNV , FRP
Issuer: Solo Cup Company
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