| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for Sensata Technologies BV > News item |
S&P ups Sensata notes to BB
Standard & Poor's said today that it raised its issue-level rating on Sensata Technologies BV's $700 senior unsecured notes due 2019 to BB (the same level as the corporate credit rating) from B+ and removed the rating from CreditWatch with positive implications where it had been since April 10.
The recovery rating on these notes was revised to 4 from 6.
S&P said the higher issue-level rating on the notes reflects the completion of a $500 million 101/2-year notes offering.
Sensata used the proceeds, along with $200 million of cash, to repay priority secured term debt. This transaction resulted in improved recovery prospects for the noteholders under S&P's simulated default scenario.
© 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.