Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Merrill Corp. > News item |
S&P affirms Merrill Corp.
Standard & Poor's said it affirmed the B corporate credit rating on Merrill Corp. and removed it from CreditWatch, where it was placed with negative implications June 27.
The outlook is negative.
The agency lowered the company's senior secured credit facility to B from B+ with recovery rating revised to 3 from 2. The company's second-lien term loan remains unchanged at CCC+ with a recovery rating of 6.
"The affirmation of the B corporate credit rating recognizes the company's surplus cash and ability to continue to generate discretionary cash flow despite the difficult operating conditions affecting many of Merrill's business segments, particularly financial print and the consumer segment of its Marketing and Communication Solutions business," S&P analyst Michael Listner said in a statement.
"We expect the surplus cash to provide flexibility during the challenging operating environment."
© 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.