S&P gives B to Hyperion loan

Standard & Poor's said it assigned its preliminary B long-term corporate credit rating to Hyperion Insurance Group Ltd. The outlook is stable.

At the same time, S&P assigned a preliminary B issue rating to the proposed $250 million term loan B to be issued by Hyperion Financial Sarl, a subsidiary of Hyperion. The preliminary recovery rating on the proposed loan is 4, indicating an expectation of average (30%-50%) recovery for creditors in the event of a payment default.

The preliminary ratings reflect S&P's assessment of Hyperion's business risk profile as "fair" and financial risk profile as "highly leveraged."

© 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.