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

Research Update: Confie Seguros Holding II Co. Ratings Lowered To 'CCC', Remain On CreditWatch Developing

Research Update: Confie Seguros Holding II Co. Ratings Lowered To 'CCC', Remain On CreditWatch Developing - S&P Global Ratings’ Credit Research
Research Update: Confie Seguros Holding II Co. Ratings Lowered To 'CCC', Remain On CreditWatch Developing
Published Aug 15, 2018
7 pages (2518 words) — Published Aug 15, 2018
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Confie Seguros Holding II Co. has not yet addressed its upcoming first-lien credit facility maturing in November 2018, and its covenant cushion remains very tight. We are lowering our issuer credit and senior secured ratings on the company to 'CCC' from 'CCC+', and lowering our debt ratings on the company's credit facilities, to reflect our view of the increased refinancing risk. The CreditWatch Developing listing reflects the possibility we could take either a positive or negative rating action in the next six months depending on the progress of the company's refinancing initiatives. On Aug. 15, 2018, S&P Global Ratings lowered its issuer credit rating on Confie Seguros Holding II Co. to 'CCC' from 'CCC+'; the ratings remain on CreditWatch with

  
Brief Excerpt:

...+ Confie Seguros Holding II Co. has not yet addressed its upcoming first-lien credit facility maturing in November 2018, and its covenant cushion remains very tight. + We are lowering our issuer credit and senior secured ratings on the company to '###' from '###+', and lowering our debt ratings on the company's credit facilities, to reflect our view of the increased refinancing risk. + The CreditWatch Developing listing reflects the possibility we could take either a positive or negative rating action in the next six months depending on the progress of the company's refinancing initiatives....

  
Report Type:

Research Update

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Global Issuers
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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.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Confie Seguros Holding II Co. Ratings Lowered To 'CCC', Remain On CreditWatch Developing" Aug 15, 2018. Alacra Store. Dec 09, 2018. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Confie-Seguros-Holding-II-Co-Ratings-Lowered-To-CCC-Remain-On-CreditWatch-Developing-2086808>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Confie Seguros Holding II Co. Ratings Lowered To 'CCC', Remain On CreditWatch Developing Aug 15, 2018. New York, NY: Alacra Store. Retrieved Dec 09, 2018 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Confie-Seguros-Holding-II-Co-Ratings-Lowered-To-CCC-Remain-On-CreditWatch-Developing-2086808>
  
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