| Title: | Recovery Report: Ace Hardware Corp.'s Recovery Rating Profile |
| Price: | $175.00 |
| Publication Date: | Apr 30, 2008 |
| Report Type: | Commentary |
| Abstract: | Standard&Poor's Ratings Services today assigned its recovery ratings to Ace Hardware Corp.'s (BB-/Stable/--) $300 million senior secured notes. The issue-level rating on the company's senior secured notes is 'BB-' (the same as the corporate credit rating on the company), and we assigned a recovery rating of '4' to this debt issue, indicating the expectation for average (30%-50%) recovery in the event of a payment default. The senior secured notes mature in 2016. 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. Concurrent with the note offering, Ace will issue a $300 million asset-backed loan revolver which matures 2013. The revolver, |
| Brief Excerpt: | RESEARCH Ratings Definitions Recovery Report: Ace Hardware Corp.'s Recovery Rating Profile Publication date: ##-Apr-#### Primary Credit Analyst: David M Kuntz, New York (#) ###-###-####; david_m_kuntz@standardandpoors.com Recovery... |
| Word Count: | 867 |
| Sector: | Global Issuers, Corporations, Capital Goods |
| Format: | 
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