Research Update: Confie Seguros Holding II Co.  Downgraded To 'CCC+', On CreditWatch Developing - S&P Global Ratings’ Credit Research

Research Update: Confie Seguros Holding II Co. Downgraded To 'CCC+', On CreditWatch Developing

Research Update: Confie Seguros Holding II Co.  Downgraded To 'CCC+', On CreditWatch Developing - S&P Global Ratings’ Credit Research
Research Update: Confie Seguros Holding II Co. Downgraded To 'CCC+', On CreditWatch Developing
Published May 28, 2018
6 pages (2144 words) — Published May 28, 2018
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Confie has not yet addressed its first-lien maturity due in November 2018, and its covenant cushion remains very tight. We are lowering our ratings to reflect our view of the company's weak liquidity. The CreditWatch Developing reflects the possibility of a positive or negative rating action over the next six months, depending on the company's refinancing initiatives. On May 28, 2018, S&P Global Ratings lowered its long-term issuer credit rating on Confie Seguros Holdings II Co. (Confie) to 'CCC+' from 'B-' and placed them on CreditWatch with developing implications. At the same time, we lowered our debt rating on the company's first-lien facility to 'B-' from 'B' and on the second-lien facility to 'CCC-' from 'CCC', reflecting the issuer downgrade.

  
Brief Excerpt:

...+ Confie has not yet addressed its first-lien maturity due in November 2018, and its covenant cushion remains very tight. + We are lowering our ratings to reflect our view of the company's weak liquidity. + The CreditWatch Developing reflects the possibility of a positive or negative rating action over the next six months, depending on the company's refinancing initiatives....

  
Report Type:

Research Update

Issuer
Sector
Global Issuers
Country
Region
Format:
PDF Adobe Acrobat
Buy Now

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Confie Seguros Holding II Co. Downgraded To 'CCC+', On CreditWatch Developing" May 28, 2018. Alacra Store. Sep 22, 2020. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Confie-Seguros-Holding-II-Co-Downgraded-To-CCC-On-CreditWatch-Developing-2045791>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Confie Seguros Holding II Co. Downgraded To 'CCC+', On CreditWatch Developing May 28, 2018. New York, NY: Alacra Store. Retrieved Sep 22, 2020 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Confie-Seguros-Holding-II-Co-Downgraded-To-CCC-On-CreditWatch-Developing-2045791>
  
US$ 225.00
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.