| Title: | Research Update: Ace Hardware Corp. Assigned 'BB-' Corporate Credit Rating; Outlook Stable |
| Price: | $175.00 |
| Publication Date: | Apr 30, 2008 |
| Report Type: | Research Update |
| Abstract: | On April 30, 2008, Standard&Poor's Ratings Services assigned its 'BB-' corporate credit rating to Oak Brook, Ill.-based Ace Hardware Corp., a retailer-owned convenience hardware cooperative. The outlook is stable. At the same time, we assigned our recovery rating to the company's proposed $300 million senior secured notes, which mature in 2016. We rated the notes 'BB-' (the same as the corporate credit rating on Ace) with a recovery rating of '4', indicating that lenders can expect average (30%-50%) recovery of principal in the event of payment default. The proceeds from the senior secured notes, along with cash on hand, will be used to refinance the company's existing senior unsecured revolver and private placement notes. The ratings on Ace |
| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: Ace Hardware Corp. Assigned '##-' Corporate Credit Rating; Outlook Stable Publication date: ##-Apr-#### Primary Credit Analyst: David M Kuntz, New York (#) ###-###-####; david_m_kuntz@standardandpoors.com... |
| Word Count: | 1163 |
| Ticker: | 2675B |
| Issuer: | Ace Hardware Corp. |
| Sector: | Global Issuers, Corporations, Capital Goods |
| Country: | United States |
| Region: | United States |
| Format: | 
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