Enpro Inc.'s Proposed $450 Million Senior Unsecured Notes Rated 'BB-' (Recovery Rating; 5) - S&P Global Ratings’ Credit Research

Enpro Inc.'s Proposed $450 Million Senior Unsecured Notes Rated 'BB-' (Recovery Rating; 5)

Enpro Inc.'s Proposed $450 Million Senior Unsecured Notes Rated 'BB-' (Recovery Rating; 5) - S&P Global Ratings’ Credit Research
Enpro Inc.'s Proposed $450 Million Senior Unsecured Notes Rated 'BB-' (Recovery Rating; 5)
Published May 13, 2025
Published May 13, 2025
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Abstract:

NEW YORK (S&P Global Ratings) May 13, 2025--S&P Global Ratings today assigned its 'BB-' issue-level rating and '5' recovery rating to Enpro Inc.?s proposed $450 million senior unsecured notes due May 2033. The '5' recovery rating indicates our expectation of modest (10%-30%; rounded estimate: 20%) recovery for noteholders in the event of a payment default. The company plans to use the proceeds from the notes issue to fully redeem its existing $350 million senior unsecured notes, partially paydown the outstanding balance on its $800 million revolving credit facility and pay associated fees and expenses. Our long-term issuer credit rating on Enpro remains ?BB?. For the complete issuer credit rating rationale, please see our most recent research update on Enpro ,

  
Report Type:

Ratings Action

Issuer
GICS
Industrial Machinery (20106020)
Sector
Global Issuers
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MLA:
S&P Global Ratings’ Credit Research. "Enpro Inc.'s Proposed $450 Million Senior Unsecured Notes Rated 'BB-' (Recovery Rating; 5)" May 13, 2025. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Enpro-Inc-s-Proposed-450-Million-Senior-Unsecured-Notes-Rated-BB-Recovery-Rating-5-3368162>
  
APA:
S&P Global Ratings’ Credit Research. (). Enpro Inc.'s Proposed $450 Million Senior Unsecured Notes Rated 'BB-' (Recovery Rating; 5) May 13, 2025. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Enpro-Inc-s-Proposed-450-Million-Senior-Unsecured-Notes-Rated-BB-Recovery-Rating-5-3368162>
  
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