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Prospect News home > News index > List of issuers A > Headlines for Ascena Retail Group Inc. > News item |
S&P rates Ascena loan BB+
Standard & Poor's said that after receiving final documents, it assigned a BB+ rating, with a recovery rating of 1, to Ascena Retail Group Inc.'s $300 million senior secured term loan due 2018.
The 1 recovery rating indicates an expectation of very high recovery in the event of a payment default.
S&P said the rating action follows the company's completion of its proposed term loan offering to fund its acquisition of Charming Shoppe Inc.
The BB- corporate credit rating on the company remains unchanged.
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