Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research Crown Holdings Inc.

Crown's Proposed $1 Billion Multicurrency Secured Revolving Credit Facility Rated 'BB+'

Published May 26, 2010

1265 words — Published May 26, 2010

Price US$ 150.00 | Buy this Report Now

About This Report

Abstract:

NEW YORK (Standard&Poor's) May 26, 2010--Standard&Poor's Ratings Services said today that, based on preliminary terms and conditions, it assigned its 'BB+' senior secured debt rating and a recovery rating of '2' to a proposed $1 billion multicurrency senior secured revolving credit facility maturing in 2015. The revolving credit facility is available to certain subsidiaries of Crown Holdings Inc. These ratings indicate our expectation of substantial (70% to 90%) recovery in the event of a payment default. Standard&Poor's has updated its recovery analysis on Crown. For the complete recovery analysis, see our recovery report on Crown to be published shortly on RatingsDirect. If consummated as currently structured, the proposed facility would replace Crown's existing $758

Brief Excerpt:

RESEARCH Crown's Proposed $1 Billion Multicurrency Secured Revolving Credit Facility Rated '##+' Publication date: 26-May-2010 Primary Credit Analyst: Cynthia Werneth, CFA, New York (1) 212-438-7819; cindy_werneth@standardandpoors.com...

Report Type:

Ratings Action

Ticker

CCK

Issuer

Crown Holdings Inc.

GICS

Metal & Glass Containers (15103010)

Sector

Global Issuers , Structured Finance

Country

United States

Region

United States

Format:

HTML

Crown European Holdings' Eur500 Million Senior Unsecured Notes Rated 'BB-'; Secured Debt Rating Raised To 'BBB-' – 2010/07/23 – US$ 150.00

Research Update: Crown European Holdings' Eur500 Million Senior Unsecured Notes Rated 'BB-'; Secured Debt Rating Raised To 'BBB-' – 2010/07/23 – US$ 225.00

Crown Holdings Inc. – 2010/08/09 – US$ 500.00

Summary: Crown Holdings Inc. – 2010/08/09 – US$ 225.00

Crown Holdings' Notes Rated 'BB-'; Senior Secured Debt Lowered To 'BB+'; Other Ratings Affirmed – 2011/01/21 – US$ 150.00

Crown Holdings Inc. – 2010/04/01 – US$ 500.00

Summary: Crown Holdings Inc. – 2010/04/01 – US$ 225.00

Crown Holdings Inc. Outlook Revised To Positive, 'BB' Rating Affirmed – 2010/03/25 – US$ 150.00

Research Update: Crown Holdings Inc. Outlook Revised To Positive, 'BB' Rating Affirmed – 2010/03/25 – US$ 225.00

Summary: Crown Holdings Inc. – 2009/09/16 – US$ 225.00

More from S&P Global Ratings’ Credit Research

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. "Crown's Proposed $1 Billion Multicurrency Secured Revolving Credit Facility Rated 'BB+'" May 26, 2010. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Crown-s-Proposed-1-Billion-Multicurrency-Secured-Revolving-Credit-Facility-Rated-BB-800910>

APA:	S&P Global Ratings’ Credit Research. (). Crown's Proposed $1 Billion Multicurrency Secured Revolving Credit Facility Rated 'BB+' May 26, 2010. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Crown-s-Proposed-1-Billion-Multicurrency-Secured-Revolving-Credit-Facility-Rated-BB-800910>

US$ 150.00

$ £ €

Have a Question?

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

Example Report

Click to View Sample Report

More Research

Search all our Residential Mortgage-Backed Securities from one place.