Research Update: Crown European Holdings' Eur500 Million Senior Unsecured Notes Rated 'BB-'; Secured Debt Rating Raised To 'BBB-' - S&P Global Ratings’ Credit Research

Research Update: Crown European Holdings' Eur500 Million Senior Unsecured Notes Rated 'BB-'; Secured Debt Rating Raised To 'BBB-'

Research Update: Crown European Holdings' Eur500 Million Senior Unsecured Notes Rated 'BB-'; Secured Debt Rating Raised To 'BBB-' - S&P Global Ratings’ Credit Research
Research Update: Crown European Holdings' Eur500 Million Senior Unsecured Notes Rated 'BB-'; Secured Debt Rating Raised To 'BBB-'
Published Jul 23, 2010
2292 words — Published Jul 23, 2010
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Crown European Holdings S.A., a subsidiary of global can maker Crown Holdings Inc., is issuing Eur500 million of senior unsecured notes. Crown intends to use the proceeds to repay secured and unsecured debt and for general corporate purposes. We are assigning a 'BB-' senior unsecured debt rating and a recovery rating of '5' to these notes. We are affirming our 'BB' corporate credit rating on Crown as well as our ratings on the company's unsecured debt. Based on our updated recovery analysis, we are raising our senior secured debt rating on the company to 'BBB-' with a recovery rating of '1' from 'BB+' with a recovery rating of '2'. We are maintaining our positive ratings outlook based on our expectation

  
Brief Excerpt:

RESEARCH Research Update: Crown European Holdings' Eur500 Million Senior Unsecured Notes Rated '##-'; Secured Debt Rating Raised To '###-' Publication date: 23-Jul-2010 Primary Credit Analyst: Cynthia Werneth, CFA, New York (1) 212-438-7819;...

  
Report Type:

Research Update

Ticker
CCK
Issuer
Crown Holdings Inc.
GICS
Metal & Glass Containers (15103010)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
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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.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Crown European Holdings' Eur500 Million Senior Unsecured Notes Rated 'BB-'; Secured Debt Rating Raised To 'BBB-'" Jul 23, 2010. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Crown-European-Holdings-Eur500-Million-Senior-Unsecured-Notes-Rated-BB-Secured-Debt-Rating-Raised-To-BBB-810963>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Crown European Holdings' Eur500 Million Senior Unsecured Notes Rated 'BB-'; Secured Debt Rating Raised To 'BBB-' Jul 23, 2010. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Crown-European-Holdings-Eur500-Million-Senior-Unsecured-Notes-Rated-BB-Secured-Debt-Rating-Raised-To-BBB-810963>
  
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