Research Update: Artera Services LLC Downgraded To 'CCC+' From 'B-' On Elevated Leverage; Outlook Stable - S&P Global Ratings’ Credit Research

Research Update: Artera Services LLC Downgraded To 'CCC+' From 'B-' On Elevated Leverage; Outlook Stable

Research Update: Artera Services LLC Downgraded To 'CCC+' From 'B-' On Elevated Leverage; Outlook Stable - S&P Global Ratings’ Credit Research
Research Update: Artera Services LLC Downgraded To 'CCC+' From 'B-' On Elevated Leverage; Outlook Stable
Published Aug 24, 2022
6 pages (2426 words) — Published Aug 24, 2022
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Artera Services LLC's, leverage remains elevated, and we believe the inflationary headwinds could impair the company's ability to improve profitability this year. We lowered our issuer credit rating on Artera to 'CCC+' from 'B-'. The outlook is stable. We lowered our issue-level ratings on the company's first-lien term loan, revolving line of credit, and senior secured notes to 'CCC+' from 'B-'. The recovery ratings remain '3', indicating our expectation of meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a default. We lowered the issue-level rating on the company's second-lien term loan to 'CCC-' from 'CCC'. The '6' recovery rating indicates our expectation of negligible (0%-10%; rounded estimate: 0%) recovery in the event of a default. The stable outlook

  
Brief Excerpt:

...- Artera Services LLC's, leverage remains elevated, and we believe the inflationary headwinds could impair the company's ability to improve profitability this year. - We lowered our issuer credit rating on Artera to '###+' from 'B-'. The outlook is stable. - We lowered our issue-level ratings on the company's first-lien term loan, revolving line of credit, and senior secured notes to '###+' from 'B-'. The recovery ratings remain '3', indicating our expectation of meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a default. - We lowered the issue-level rating on the company's second-lien term loan to '###-' from '###'. The '6' recovery rating indicates our expectation of negligible (0%-10%; rounded estimate: 0%) recovery in the event of a default. - The stable outlook reflects our view of sufficient liquidity for debt repayment and capital spending over the next 12 months....

  
Report Type:

Research Update

Issuer
Artera Services LLC
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

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. "Research Update: Artera Services LLC Downgraded To 'CCC+' From 'B-' On Elevated Leverage; Outlook Stable" Aug 24, 2022. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Artera-Services-LLC-Downgraded-To-CCC-From-B-On-Elevated-Leverage-Outlook-Stable-2884094>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Artera Services LLC Downgraded To 'CCC+' From 'B-' On Elevated Leverage; Outlook Stable Aug 24, 2022. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Artera-Services-LLC-Downgraded-To-CCC-From-B-On-Elevated-Leverage-Outlook-Stable-2884094>
  
US$ 225.00
$  £  €
Have a Question?

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

More Research

Search all our Credit Research from one place.