Home Credit Ratings and Research S&P Global Ratings’ Credit Research Cott Corp.

Research Update: Cott Corp. Affirmed At 'B+', Off Watch Dev; Proposed US$525M Senior Unsecured Notes Rated 'B+' (Recovery Rating: '4')

Published Jun 10, 2014

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Abstract:

We are affirming our ratings on Cott Corp, including our 'B+' long-term corporate credit rating on the company, and removing all ratings from CreditWatch where they had been placed with developing implications Feb. 13, 2014. At the same time, we are assigning our 'B+' issue-level rating and '4' recovery rating to Cott's proposed US$525 million senior unsecured notes due 2022. The company plans to issue the notes through its wholly owned U.S. subsidiary, Cott Beverages Inc. The notes will be used to repay Cott's US$375 million senior unsecured notes due 2018 as well as debt outstanding under the company's asset-backed lending (ABL) facility. The negative outlook on Cott reflects Standard&Poor's belief that the company's operating performance could remain

Report Type:

Research Update

Ticker

BCB@CN

Issuer

Cott Corp.

GICS

Soft Drinks (30201030)

Sector

Global Issuers

Country

Canada

Region

Canada

Format:

HTML

Cott Corp. Put On Watch Negative, DS Services of America Inc.'s Secured Notes Put On Watch Positive On Potential Buyout – 2014/11/06 – US$ 150.00

Research Update: Cott Corp. On Watch Negative, DS Services of America Inc.'s Secured Notes On Watch Positive On Potential Buyout – 2014/11/06 – US$ 225.00

Cott Corp. CCR Lowered To 'B' From 'B+' On Expected DSS Group Inc. Acquisition And Associated Financing – 2014/12/03 – US$ 150.00

Research Update: Cott Corp. Downgraded To 'B' From 'B+' On Expected DSS Group Inc. Acquisition And Associated Financing – 2014/12/03 – US$ 225.00

Summary: Cott Corp. – 2015/12/22 – US$ 225.00

Cott Corp. Affirmed At 'B+', Off Watch Dev; Proposed US$525M Senior Unsecured Notes Rated 'B+' (Recovery Rating: '4') – 2014/06/10 – US$ 150.00

Research Update: Cott Corp. Ratings Placed On CreditWatch Developing As Strategic Alternatives Are Explored – 2014/02/13 – US$ 225.00

Cott Corp. Ratings Put On CreditWatch Developing As Strategic Alternatives Are Considered – 2014/02/13 – US$ 150.00

Summary: Cott Corp. – 2013/03/27 – US$ 225.00

Cott Corp. CCR Raised To 'B+' From 'B' On Strengthened Profitability, Sustained Improved Credit Metrics; Outlook Stable – 2012/09/26 – US$ 150.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Research Update: Cott Corp. Affirmed At 'B+', Off Watch Dev; Proposed US$525M Senior Unsecured Notes Rated 'B+' (Recovery Rating: '4')" Jun 10, 2014. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Cott-Corp-Affirmed-At-B-Off-Watch-Dev-Proposed-US-525M-Senior-Unsecured-Notes-Rated-B-Recovery-Rating-4-1331049>

APA:	S&P Global Ratings’ Credit Research. (). Research Update: Cott Corp. Affirmed At 'B+', Off Watch Dev; Proposed US$525M Senior Unsecured Notes Rated 'B+' (Recovery Rating: '4') Jun 10, 2014. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Cott-Corp-Affirmed-At-B-Off-Watch-Dev-Proposed-US-525M-Senior-Unsecured-Notes-Rated-B-Recovery-Rating-4-1331049>

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