WKI Holding Company Inc.'s Corporate Credit Rating Lowered To 'CC'; Outlook Is Negative - S&P Global Ratings’ Credit Research

WKI Holding Company Inc.'s Corporate Credit Rating Lowered To 'CC'; Outlook Is Negative

WKI Holding Company Inc.'s Corporate Credit Rating Lowered To 'CC'; Outlook Is Negative - S&P Global Ratings’ Credit Research
WKI Holding Company Inc.'s Corporate Credit Rating Lowered To 'CC'; Outlook Is Negative
Published Apr 02, 2002
940 words — Published Apr 02, 2002
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Abstract:

NEW YORK (Standard&Poor's) April 2, 2002--Standard&Poor's said today that it lowered its corporate credit and senior secured bank loan ratings on kitchenware manufacturer WKI Holding Company Inc. to double-'C' from triple-'C'. The downgrade is based on WKI Holding's public statement that it is working with financial advisors to explore strategic alternatives, including the possible need for a court-supervised proceeding to facilitate the financial restructuring of the company. At the same time, Standard&Poor's lowered WKI's subordinated debt rating to single-'C' from double-'C'. The outlook is negative. The company's total debt as of Dec. 31, 2001 was about $794 million. "If WKI Holding files for bankruptcy protection or fails to make its next scheduled interest payment

  
Brief Excerpt:

RESEARCH WKI Holding Company Inc.'s Corporate Credit Rating Lowered To '##'; Outlook Is Negative Publication date: 02-Apr-2002 Credit Analyst: Lori Harris, New York (1) 212-438-7834 NEW YORK (Standard & Poor's) April 2, 2002--Standard...

  
Report Type:

Ratings Action

Ticker
10045Z
Issuer
Instant Brands Holdings Inc.
GICS
Housewares & Specialties (25201050)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "WKI Holding Company Inc.'s Corporate Credit Rating Lowered To 'CC'; Outlook Is Negative" Apr 02, 2002. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/WKI-Holding-Company-Inc-s-Corporate-Credit-Rating-Lowered-To-CC-Outlook-Is-Negative-238583>
  
APA:
S&P Global Ratings’ Credit Research. (). WKI Holding Company Inc.'s Corporate Credit Rating Lowered To 'CC'; Outlook Is Negative Apr 02, 2002. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/WKI-Holding-Company-Inc-s-Corporate-Credit-Rating-Lowered-To-CC-Outlook-Is-Negative-238583>
  
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