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| Prospect News home > News index > List of issuers D > Headlines for Dunn Paper Holdings, Inc. > News item |
S&P cuts Dunn
S&P said it downgraded Dunn Paper Holdings Inc. to D from CCC, its first-lien credit facilities, which includes its $30 million revolving credit facility and $285 million first-lien term loan, and its $65 million second-lien term loan to D from CCC and CC, respectively.
The company failed to make interest payments due on March 31 on its first- and second-lien term loans, which the agency said it considers a default.
Dunn entered a forbearance pact with its first-lien creditors, which ends May 15 unless extended or the date on which certain other customary termination events occur.
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