Cobra Holdings Inc.'s First-Lien Term Loan Rating Raised To 'B' On Acquisition Plan; Recovery Rating Revised To '2' - S&P Global Ratings’ Credit Research

Cobra Holdings Inc.'s First-Lien Term Loan Rating Raised To 'B' On Acquisition Plan; Recovery Rating Revised To '2'

Cobra Holdings Inc.'s First-Lien Term Loan Rating Raised To 'B' On Acquisition Plan; Recovery Rating Revised To '2' - S&P Global Ratings’ Credit Research
Cobra Holdings Inc.'s First-Lien Term Loan Rating Raised To 'B' On Acquisition Plan; Recovery Rating Revised To '2'
Published Nov 23, 2021
4 pages (1624 words) — Published Nov 23, 2021
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Nov. 23, 2021--S&P Global Ratings today said it raised the issue-level rating to 'B' from 'B-' on Pittsburgh-based Cobra Holdings Inc.'s (d/b/a Confluence)first-lien term loan and revised the recovery rating to '2' from '3'. The '2' recovery rating reflects our expectation of substantial (70% to 90%: estimate: 70%) recovery prospects for lenders in a default scenario. Our issue-level rating on the second-lien term loan remains 'CCC', with a '6' recovery rating. The 'B-' issuer credit rating and stable outlook remain unchanged. The company is a provider of performance reporting, regulatory, risk, and data software solutions and is acquiring two targets: Investment Metrics LLC (IM) and Compliance Solutions Strategies (CSS). The company will finance the transactions

  
Brief Excerpt:

...Cobra Holdings Inc.'s First-Lien Term Loan Rating Raised To 'B' On Acquisition Plan; Recovery Rating Revised To '2'...

  
Report Type:

Ratings Action

Issuer
Cobra Holdings Inc.
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

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.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Cobra Holdings Inc.'s First-Lien Term Loan Rating Raised To 'B' On Acquisition Plan; Recovery Rating Revised To '2'" Nov 23, 2021. Alacra Store. May 11, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Cobra-Holdings-Inc-s-First-Lien-Term-Loan-Rating-Raised-To-B-On-Acquisition-Plan-Recovery-Rating-Revised-To-2-2761082>
  
APA:
S&P Global Ratings’ Credit Research. (). Cobra Holdings Inc.'s First-Lien Term Loan Rating Raised To 'B' On Acquisition Plan; Recovery Rating Revised To '2' Nov 23, 2021. New York, NY: Alacra Store. Retrieved May 11, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Cobra-Holdings-Inc-s-First-Lien-Term-Loan-Rating-Raised-To-B-On-Acquisition-Plan-Recovery-Rating-Revised-To-2-2761082>
  
US$ 150.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.