S&P: Green Mountain loan BB-

Standard & Poor's said it affirmed the B+ corporate credit rating on Green Mountain Coffee Roasters Inc. following the company's announcement that it has closed on its senior secured credit facilities and repaid $689 million of its term loan B and revolving credit facility with equity proceeds.

S&P assigned a BB- rating to the company's $1 billion revolving credit facility due 2016 and $250 million term loan A due 2016 with a recovery rating of 2, indicating substantial (70% to 90%) recovery in the event of a payment default.

The outlook is stable.

The ratings reflect Green Mountain's aggressive financial risk profile and weak business risk profile, the agency said.

The stable outlook reflects the expectation that liquidity will remain adequate, strong top-line growth will continue and margins will further expand, the agency added.

© 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.