Bulletin: CHG PPC Intermediate II LLC Ratings Unchanged On Upsized First-Lien Term Loan - S&P Global Ratings’ Credit Research

Bulletin: CHG PPC Intermediate II LLC Ratings Unchanged On Upsized First-Lien Term Loan

Bulletin: CHG PPC Intermediate II LLC Ratings Unchanged On Upsized First-Lien Term Loan - S&P Global Ratings’ Credit Research
Bulletin: CHG PPC Intermediate II LLC Ratings Unchanged On Upsized First-Lien Term Loan
Published Mar 23, 2018
2 pages (888 words) — Published Mar 23, 2018
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About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) March 23, 2018--S&P Global Ratings said today that its ratings on CHG PPC Intermediate II LLC, including its 'B' rating on the company's first-lien term loan, are unchanged following the company's decision to upsize the loan by $20 million to $675 million and reduce its privately placed second-lien term loan (unrated) by the same amount to $115 million. Our '3' recovery rating on CHG's first-lien term loan is unchanged, indicating our expectations of meaningful 50%-70%; rounded estimate: 65%) recovery in the event of payment default.

  
Brief Excerpt:

...NEW YORK (S&P Global Ratings) March 23, 2018--S&P Global Ratings said today that its ratings on CHG PPC Intermediate II LLC, including its 'B' rating on the company's first-lien term loan, are unchanged following the company's decision to upsize the loan by $20 million to $675 million and reduce its privately placed second-lien term loan (unrated) by the same amount to $115 million. Our '3' recovery rating on CHG's first-lien term loan is unchanged, indicating our expectations of meaningful 50%-70%; rounded estimate: 65%) recovery in the event of payment default. Only a rating committee may determine a rating action and this report does not constitute a rating action....

  
Report Type:

Bulletin

Issuer
CHG PPC Intermediate II LLC
GICS
Packaged Foods & Meats (30202030)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: CHG PPC Intermediate II LLC Ratings Unchanged On Upsized First-Lien Term Loan" Mar 23, 2018. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-CHG-PPC-Intermediate-II-LLC-Ratings-Unchanged-On-Upsized-First-Lien-Term-Loan-2011683>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: CHG PPC Intermediate II LLC Ratings Unchanged On Upsized First-Lien Term Loan Mar 23, 2018. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-CHG-PPC-Intermediate-II-LLC-Ratings-Unchanged-On-Upsized-First-Lien-Term-Loan-2011683>
  
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