S&P cuts WP Evenflo loans to CCC

Standard & Poor's said it lowered WP Evenflo Holdings Inc.'s first-lien senior secured debt facilities, consisting of a $40 million revolving credit facility and $120 million term loan, to CCC from CCC+ and revised the recovery rating to 3 from 2.

The CC rating on the $45 million second-lien term loan remains unchanged with a recovery rating of 6.

"However, we are now withdrawing the corporate credit, and senior secured first and second-lien debt ratings on the company due to lack of information," S&P analyst Susan Ding said in a statement.

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