S&P ups One Call

S&P said it upgraded One Call Corp. to B- from SD on completing its recapitalization.

“At the same time, we raised our debt rating on One Call's first-lien revolver due 2022 to B- from CCC, and raised our debt ratings on its first-lien term loan due 2022 and first-lien notes due 2024 to B- from D. The recovery ratings on these debt issues are 4, indicating our expectation for average recovery (30%-50%, rounded estimate: 30%) in the event of a payment default,” said S&P in a press release.

S&P also upgraded the debt rating on One Call's senior unsecured notes due 2021 to CCC from C, and raised the debt rating on its second-lien notes due 2024 to CCC from D. The recovery rating on these debt issues are 6, indicating S&P’s expectation for negligible recovery (0%) in the event of a payment default, the agency said.

The outlook is stable.

© 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.