S&P rates Albertsons notes BB-

S&P said it assigned its BB- issue-level rating and 2 recovery rating to Albertsons Cos. Inc.’s proposed $500 million senior unsecured notes due 2027. The 2 recovery rating indicates our expectation for substantial recovery to lenders (70%-90%; rounded estimate: 85%).

Proceeds will be used to repay nearly $500 million in term loan B-7, lowering the balance to about $1 billion.

Albertsons’ other ratings are unchanged by the offering, 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.