S&P gives Sensata B+, loan BB-, notes B-

Standard & Poor's said it assigned its B+ corporate credit rating to Sensata Technologies BV.

The agency added a BB- senior secured rating and a 1 recovery rating were assigned to Sensata's proposed $1.35 billion senior secured credit facility.

The agency noted it also assigned B- ratings to Sensata's European senior unsecured notes due 2016, to its U.S. senior unsecured notes due 2016 and to its U.S. senior subordinated notes due 2016.

The outlook is stable.

The ratings reflect Sensata's satisfactory business profile, though this is offset by the company's heavy debt burden, which results in a highly leveraged balance sheet and thin cash-flow protection, S&P said.

© 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.