S&P affirms Knoll

Standard & Poor's said it affirmed its bank loan and recovery ratings on Knoll Inc.'s senior secured bank loan and senior secured credit facilities, following the announcement that the company increased the amount it can borrow under its term loan by an incremental $38 million and its revolving credit facility by an incremental $12 million.

The agency said that pro forma for the increases, the facility will consist of a $256.1 million term loan and a $212 million revolving credit facility, of which $133.5 million was drawn.

The senior secured bank loan rating is BB, the same as the BB corporate credit rating on Knoll and the recovery rating is 3, S&P 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.