| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers G > Headlines for Grupo Famsa SAB de CV > News item |
S&P rates Grupo Famsa notes CCC-
S&P said it assigned its CCC- issue-level and 3 recovery ratings to Grupo Famsa SAB de CV’s new 9¾% senior secured notes due December 2024. The 3 recovery rating indicates an expectation for meaningful recovery (50%-90%) in the event of a default. At the same time, S&P withdrew at the issuer’s request its CCC- issue-level and 3 recovery ratings on the company’s 7¼% senior unsecured notes due June 2020.
On Dec. 17, the company announced the settlement of the exchange offer, validly tendering $80.9 million for $140 million of its existing 2020 notes. The new notes will mature on Dec. 15, 2024, while outstanding $59.1 million of its 2020 notes remain due June 1, 2020.
© 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.