S&P revises Viskase notes to 4

Standard & Poor's said it revised the recovery rating on Viskase Cos. Inc.'s proposed $175 million senior secured notes due 2018 to 4 from 3 and affirmed the issue rating at B-.

The B- corporate credit rating is unchanged.

The outlook is positive.

Viskase increased the size of the deal to $175 million from the original proposal of $160 million, the agency said.

Ratings reflect Viskase's vulnerable business risk profile as a producer in the highly competitive non-edible casings niche within the packaging industry and its highly leveraged financial profile, the agency 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.