Bulletin: Confie Seguros Holding II Co. Ratings Unaffected By Increase In Senior Secured Credit Facilities - S&P Global Ratings’ Credit Research

Bulletin: Confie Seguros Holding II Co. Ratings Unaffected By Increase In Senior Secured Credit Facilities

Bulletin: Confie Seguros Holding II Co. Ratings Unaffected By Increase In Senior Secured Credit Facilities - S&P Global Ratings’ Credit Research
Bulletin: Confie Seguros Holding II Co. Ratings Unaffected By Increase In Senior Secured Credit Facilities
Published Oct 11, 2016
Published Oct 11, 2016
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Abstract:

HIGHTSTOWN (S&P Global Ratings) Oct. 11, 2016--S&P Global Ratings said today that its ratings on Confie Seguros Holding II Co. are unaffected by the company's planned increase in its senior secured credit facilities. Confie is upsizing its $590 million first-lien Term B Loans due 2022 to $665 million. The credit revolver due 2021 has been reduced to $90 million from $105 million. Confie will use the proceeds of the Term B Loans to refinance its capital structure ahead of upcoming maturities. The recovery rating on the company's senior secured credit facilities remains '3', reflecting our expectation for meaningful (50%-70%; at the higher end of the range) recovery in the event of payment default. The recovery rating on existing secured second-lien

  
Report Type:

Bulletin

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Global Issuers
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MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Confie Seguros Holding II Co. Ratings Unaffected By Increase In Senior Secured Credit Facilities" Oct 11, 2016. Alacra Store. Sep 22, 2020. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Confie-Seguros-Holding-II-Co-Ratings-Unaffected-By-Increase-In-Senior-Secured-Credit-Facilities-1733924>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Confie Seguros Holding II Co. Ratings Unaffected By Increase In Senior Secured Credit Facilities Oct 11, 2016. New York, NY: Alacra Store. Retrieved Sep 22, 2020 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Confie-Seguros-Holding-II-Co-Ratings-Unaffected-By-Increase-In-Senior-Secured-Credit-Facilities-1733924>
  
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