S&P rates SVP Holdings, loan B+

Standard & Poor's said it assigned its B+ corporate credit rating to SVP Holdings Ltd.

The outlook is stable.

At the same time, the agency said it assigned its B+ bank loan rating and 3 recovery rating to the company's proposed $315 million of first-lien senior secured credit facilities.

The agency added that the ratings on SVP reflect the company's narrow business focus, participation in the mature, highly competitive consumer sewing machine industry, customer concentration and highly leveraged financial profile.

These factors are somewhat mitigated by the company's leading market position, wide geographic presence across several retail channels and portfolio of well-recognized brands, S&P noted.

© 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.