Mannington Mills Inc.'s Proposed $225 Million Term Loan B Due 2032 Rated 'B' (Recovery Rating: '3') - S&P Global Ratings’ Credit Research

Mannington Mills Inc.'s Proposed $225 Million Term Loan B Due 2032 Rated 'B' (Recovery Rating: '3')

Mannington Mills Inc.'s Proposed $225 Million Term Loan B Due 2032 Rated 'B' (Recovery Rating: '3') - S&P Global Ratings’ Credit Research
Mannington Mills Inc.'s Proposed $225 Million Term Loan B Due 2032 Rated 'B' (Recovery Rating: '3')
Published Feb 27, 2025
3 pages (1178 words) — Published Feb 27, 2025
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (S&P Global Ratings) Feb. 27, 2025--S&P Global Ratings today assigned its 'B' issue-level rating and '3' recovery rating to Mannington Mills Inc.'s proposed $225 million term loan B due 2032. The '3' recovery rating indicates our expectation for meaningful (50%-70%; rounded estimate: 60%) recovery for debtholders in the event of a default. We expect the company will use the proceeds from this issuance to refinance its existing $221 million term loan B due 2026 and pay related transaction fees. Our 'B' issuer credit rating and stable outlook on Mannington are unchanged. For a more detailed credit rationale , please see our most recent tear sheet on Mannington Mills Inc. , published Sept. 27, 2024, on RatingsDirect. General Criteria:

  
Brief Excerpt:

...Criteria | Corporates | General: Recovery Rating Criteria For Speculative-Grade Corporate Issuers, Dec. 7, 2016...

  
Report Type:

Ratings Action

Issuer
Mannington Mills Inc.
GICS
Building Products (20102010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Mannington Mills Inc.'s Proposed $225 Million Term Loan B Due 2032 Rated 'B' (Recovery Rating: '3')" Feb 27, 2025. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Mannington-Mills-Inc-s-Proposed-225-Million-Term-Loan-B-Due-2032-Rated-B-Recovery-Rating-3-3330288>
  
APA:
S&P Global Ratings’ Credit Research. (). Mannington Mills Inc.'s Proposed $225 Million Term Loan B Due 2032 Rated 'B' (Recovery Rating: '3') Feb 27, 2025. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Mannington-Mills-Inc-s-Proposed-225-Million-Term-Loan-B-Due-2032-Rated-B-Recovery-Rating-3-3330288>
  
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