Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Market Parent Finco plc > News item |
S&P rates Morrisons notes BB-, B-
S&P said it preliminarily rated Market Bidco Finco plc’s £1.1 billion of senior secured notes due 2027 BB- with a 2 recovery rating (70%-90%; rounded estimate: 80%) and preliminarily gave a B- with a 6 recovery rating (0%) to its £1.2 billion of senior notes through Market Parent Finco plc. The £1.2 billion of senior notes have already been placed with an institutional investor.
The agency also assigned a B+ preliminary long-term issuer credit rating to Market Holdco 3 Ltd., the parent company of Market Bidco. The three companies are part of Clayton Dubilier & Rice’s leveraged buyout of Morrisons.
The outlook is stable.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.