S&P rates Leslie's Poolmart notes B-

Standard & Poor's said it assigned its B- rating to Leslie's Poolmart Inc.'s proposed $170 million senior unsecured notes. The existing ratings on the company, including the B corporate credit rating and B- senior unsecured debt rating, were affirmed. The outlook was revised to stable from positive.

Note proceeds will be used to partly fund the recapitalization of the company.

S&P said the ratings reflect the highly seasonal nature of Leslie's business, which can be affected by unfavorable weather, the company's participation in the relatively small pool supply market and weak financial ratios.

© 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.