Ashton Woods USA LLC's $255 Million Senior Unsecured Notes Rated 'B-' (Recovery Rating: '4') - S&P Global Ratings’ Credit Research

Ashton Woods USA LLC's $255 Million Senior Unsecured Notes Rated 'B-' (Recovery Rating: '4')

Ashton Woods USA LLC's $255 Million Senior Unsecured Notes Rated 'B-' (Recovery Rating: '4') - S&P Global Ratings’ Credit Research
Ashton Woods USA LLC's $255 Million Senior Unsecured Notes Rated 'B-' (Recovery Rating: '4')
Published Mar 13, 2019
3 pages (1178 words) — Published Mar 13, 2019
Price US$ 150.00  |  Buy this Report Now

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Abstract:

CENTENNIAL (S&P Global Ratings) March 13, 2019--S&P Global Ratings today assigned its 'B-' issue-level rating and '4' recovery rating to Ashton Woods USA LLC's proposed $255 million senior unsecured notes due in 2027. Ashton Woods Finance Co. will be an issuer of the notes.This proposed issuance will be used to pay in full existing $250 million senior unsecured notes that mature in February 2021. We consider the planned transaction credit neutral. The '4' recovery rating indicates our expectation of average (30%-50%; rounded estimate: 40%) recovery in the event of payment default. RELATED CRITERIA Criteria Corporates General: Recovery Rating Criteria For Speculative-Grade Corporate Issuers, Dec. 7, 2016 Criteria Corporates General: Methodology And Assumptions: Liquidity Descriptors For Global

  
Brief Excerpt:

...CENTENNIAL (S&P Global Ratings) March 13, 2019--S&P Global Ratings today assigned its 'B-' issue-level rating and '4' recovery rating to Ashton Woods USA LLC's proposed $255 million senior unsecured notes due in 2027. Ashton Woods Finance Co. will be an issuer of the notes.This proposed issuance will be used to pay in full existing $250 million senior unsecured notes that mature in February 2021. We consider the planned transaction credit neutral. The '4' recovery rating indicates our expectation of average (30%-50%; rounded estimate: 40%) recovery in the event of payment default. RELATED CRITERIA + Criteria | Corporates | General: Recovery Rating Criteria For Speculative-Grade Corporate Issuers, Dec. 7, 2016 + Criteria | Corporates | General: Methodology And Assumptions: Liquidity Descriptors For Global Corporate Issuers, Dec. 16, 2014 + Criteria | Corporates | Industrials: Key Credit Factors For The Homebuilder And Real Estate Developer Industry, Feb. 3, 2014 + Criteria | Corporates |...

  
Report Type:

Ratings Action

Ticker
616150Z
Issuer
Ashton Woods USA LLC
GICS
Homebuilding (25201030)
Sector
Global Issuers, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Ashton Woods USA LLC's $255 Million Senior Unsecured Notes Rated 'B-' (Recovery Rating: '4')" Mar 13, 2019. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ashton-Woods-USA-LLC-s-255-Million-Senior-Unsecured-Notes-Rated-B-Recovery-Rating-4-2179956>
  
APA:
S&P Global Ratings’ Credit Research. (). Ashton Woods USA LLC's $255 Million Senior Unsecured Notes Rated 'B-' (Recovery Rating: '4') Mar 13, 2019. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ashton-Woods-USA-LLC-s-255-Million-Senior-Unsecured-Notes-Rated-B-Recovery-Rating-4-2179956>
  
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