Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Samsonite International SA > News item |
S&P rates Samsonite loan BBB-
Standard & Poor’s said it assigned its BB corporate credit rating to Samsonite International SA. The outlook is stable.
At the same time, S&P assigned BBB- issue-level ratings to the company’s proposed $2.425 billion senior secured credit facilities consisting of a $500 million revolver due 2021, $1.25 billion term loan A due 2021 and $675 million term loan B due 2023.
The 1 recovery rating indicates an expectation of very high (90% to 100%) recovery in the event of a payment default.
“The ratings on Samsonite reflect its moderate leverage, leading market position and global scale in the highly fragmented bag and travel luggage industry, strong brand portfolio, and geographic and distribution channel diversity,” said S&P credit analyst Bea Chiem in a news release.
© 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.