| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for ACCO Brands Corp. > News item |
S&P lifts ACCO notes to BB-
Standard & Poor's said it affirmed its corporate credit rating on ACCO Brands Corp. at BB-.
The outlook is stable.
At the same time, the agency raised the issue-level rating on the $500 million senior unsecured notes to BB- from B+ and revised the recovery rating for the notes to 4, reflecting an expectations for average (30% to 50%) recovery in the event of payment default, from 5.
S&P also affirmed the BB+ issue-level rating on ACCO's $780 million senior secured credit facility (which consists of a $530 million term loan A and $250 million revolving credit facility) due 2018. The recovery rating for the senior secured facility is unchanged at 1, reflecting expectations for very high (90% to 100%) recovery in the event of payment default.
The ratings on ACCO reflect the agency's view that the company's financial risk profile is "aggressive" and the business risk profile is "fair."
© 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.