Crown Americas LLC's Proposed $500 Million Unsecured Notes Rated 'BB+' (Recovery Rating: '4') - S&P Global Ratings’ Credit Research

Crown Americas LLC's Proposed $500 Million Unsecured Notes Rated 'BB+' (Recovery Rating: '4')

Crown Americas LLC's Proposed $500 Million Unsecured Notes Rated 'BB+' (Recovery Rating: '4') - S&P Global Ratings’ Credit Research
Crown Americas LLC's Proposed $500 Million Unsecured Notes Rated 'BB+' (Recovery Rating: '4')
Published May 12, 2025
Published May 12, 2025
Price US$ 150.00  |  Buy this Report Now

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Abstract:

ENGLEWOOD (S&P Global Ratings) May 12, 2025--S&P Global Ratings today assigned its ?BB+? issue-level rating and ?4? recovery rating to Crown Holdings Inc. subsidiary Crown Americas LLC ?s proposed $500 million unsecured notes due in 2033. The ?4? recovery rating indicates our expectation of average (30%-50%; rounded estimate: 45%) recovery in a default scenario. Crown plans to use the net proceeds with cash on hand and borrowings under its revolving credit facility to repay the 4.75% unsecured notes due in 2026 and for related fees and expenses. Our other ratings on Crown, including the ?BB+? issuer credit rating, are unchanged. We assume a simulated default in 2030 due to a substantial and unexpected decline in Crown?s profitability and cash flow,

  
Report Type:

Ratings Action

Ticker
CCK
Issuer
Crown Holdings Inc.
GICS
Metal & Glass Containers (15103010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Crown Americas LLC's Proposed $500 Million Unsecured Notes Rated 'BB+' (Recovery Rating: '4')" May 12, 2025. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Crown-Americas-LLC-s-Proposed-500-Million-Unsecured-Notes-Rated-BB-Recovery-Rating-4-3368371>
  
APA:
S&P Global Ratings’ Credit Research. (). Crown Americas LLC's Proposed $500 Million Unsecured Notes Rated 'BB+' (Recovery Rating: '4') May 12, 2025. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Crown-Americas-LLC-s-Proposed-500-Million-Unsecured-Notes-Rated-BB-Recovery-Rating-4-3368371>
  
US$ 150.00
$  £  €
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