Victoria's Secret&Co. Senior Unsecured Rating Raised To 'BB-' (Recovery Rating: '4') On Change In Capital Structure - S&P Global Ratings’ Credit Research

Victoria's Secret&Co. Senior Unsecured Rating Raised To 'BB-' (Recovery Rating: '4') On Change In Capital Structure

Victoria's Secret&Co. Senior Unsecured Rating Raised To 'BB-' (Recovery Rating: '4') On Change In Capital Structure - S&P Global Ratings’ Credit Research
Victoria's Secret&Co. Senior Unsecured Rating Raised To 'BB-' (Recovery Rating: '4') On Change In Capital Structure
Published Jun 30, 2021
4 pages (1626 words) — Published Jun 30, 2021
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (S&P Global Ratings) June 30, 2021--S&P Global Ratings today raised its issue-level rating on Victoria?s Secret&Co.'s (VS) proposed senior unsecured notes to 'BB-' from 'B+' and revised the recovery rating to '4' from '5'. The '4' recovery rating indicates our expectation for average (30%-50%; rounded estimate: 30%) recovery in the event of a payment default. Our 'BB+' issue-level rating on the company's senior secured term loan B is affirmed and '1' recovery rating is unchanged. The '1' recovery rating indicates our expectation for very high (90%-100%; rounded estimate: 95%) recovery in the event of a payment default. We raised our rating on the proposed debt following VS' announcement that it will issue a $400 million first-lien

  
Brief Excerpt:

...Victoria's Secret & Co. Senior Unsecured Rating Raised To '##-' (Recovery Rating: '4') On Change In Capital Structure...

  
Report Type:

Ratings Action

Issuer
Victoria's Secret&Co.
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Victoria's Secret&Co. Senior Unsecured Rating Raised To 'BB-' (Recovery Rating: '4') On Change In Capital Structure" Jun 30, 2021. Alacra Store. May 09, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Victoria-s-Secret-Co-Senior-Unsecured-Rating-Raised-To-BB-Recovery-Rating-4-On-Change-In-Capital-Structure-2681902>
  
APA:
S&P Global Ratings’ Credit Research. (). Victoria's Secret&Co. Senior Unsecured Rating Raised To 'BB-' (Recovery Rating: '4') On Change In Capital Structure Jun 30, 2021. New York, NY: Alacra Store. Retrieved May 09, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Victoria-s-Secret-Co-Senior-Unsecured-Rating-Raised-To-BB-Recovery-Rating-4-On-Change-In-Capital-Structure-2681902>
  
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