| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers M > Headlines for Marlin Intermediate Holdings plc > News item |
S&P upgrades Marlin notes to B+
Standard & Poor's said it raised its issue rating on Marlin Intermediate Holdings plc's £150 million senior secured term notes to B+ from B.
The recovery rating on these notes was revised to 2, reflecting an expectation of substantial (70%-90%) recovery in the event of a payment default, from 3 previously, which indicated an expectation of meaningful (50%-70%) recovery in the event of a payment default.
At the same time, the agency affirmed the B long-term counterparty credit rating on Marlin Financial Intermediate II and then withdrew it at Marlin's request.
The outlook was stable at the time of withdrawal.
S&P said the upgrade reflects its view that the £150 million senior secured notes have a greater expectation for recovery in the event of default.
© 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.