Mattamy Group Corp.'s Senior Unsecured Notes Rated 'BB' (Recovery Rating: '3') - S&P Global Ratings’ Credit Research

Mattamy Group Corp.'s Senior Unsecured Notes Rated 'BB' (Recovery Rating: '3')

Mattamy Group Corp.'s Senior Unsecured Notes Rated 'BB' (Recovery Rating: '3') - S&P Global Ratings’ Credit Research
Mattamy Group Corp.'s Senior Unsecured Notes Rated 'BB' (Recovery Rating: '3')
Published Feb 20, 2020
3 pages (1239 words) — Published Feb 20, 2020
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

CENTENNIAL (S&P Global Ratings) Feb.20, 2020--S&P Global Ratings today assigned its 'BB' issue-level rating and '3' recovery rating to Mattamy Group Corp.'s proposed US$500 million senior unsecured notes due 2030, and its C$225 million senior unsecured notes due 2028. The '3' recovery rating indicates our expectation for meaningful (50%-70%; rounded estimate: 60%) recovery in the event of payment default. We expect the company to use the net proceeds of this offering to repurchase or redeem all of its outstanding 2025 notes and pay related fees and expenses. The issuer credit rating on Mattamy Group Corp. is 'BB' and the outlook is positive. For the issuer credit rating rationale on Mattamy, see our research update published Nov. 19, 2019. General Criteria:

  
Brief Excerpt:

...February 20, 2020 CENTENNIAL (S&P Global Ratings) Feb.20, 2020--S&P Global Ratings today assigned its '##' issue-level rating and '3' recovery rating to Mattamy Group Corp.'s proposed US$500 million senior unsecured notes due 2030, and its C$225 million senior unsecured notes due 2028. The '3' recovery rating indicates our expectation for meaningful (50%-70%; rounded estimate: 60%) recovery in the event of payment default. We expect the company to use the net proceeds of this offering to repurchase or redeem all of its outstanding 2025 notes and pay related fees and expenses. The issuer credit rating on Mattamy Group Corp. is '##' and the outlook is positive. For the issuer credit rating rationale on Mattamy, see our research update published Nov. 19, 2019....

  
Report Type:

Ratings Action

Issuer
Mattamy Group Corp.
GICS
Homebuilding (25201030)
Sector
Global Issuers, Structured Finance
Country
Canada
Region
Canada
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Mattamy Group Corp.'s Senior Unsecured Notes Rated 'BB' (Recovery Rating: '3')" Feb 20, 2020. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Mattamy-Group-Corp-s-Senior-Unsecured-Notes-Rated-BB-Recovery-Rating-3-2385194>
  
APA:
S&P Global Ratings’ Credit Research. (). Mattamy Group Corp.'s Senior Unsecured Notes Rated 'BB' (Recovery Rating: '3') Feb 20, 2020. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Mattamy-Group-Corp-s-Senior-Unsecured-Notes-Rated-BB-Recovery-Rating-3-2385194>
  
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