| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers G > Headlines for GC EOS Buyer Inc. > News item |
S&P rates BBB Industries loans B-, CCC
S&P said it assigned its B- corporate credit rating to GC EOS Buyer Inc. (BBB Industries).
The outlook is stable.
At the same time, the agency assigned its B- issue-level rating to the company's proposed $620 million first-lien term loan due 2025. The 4 recovery rating reflects an expectation for average (30%-50%; rounded estimate: 45%) recovery in the event of a payment default.
Additionally, the agency assigned its CCC issue-level rating to the company's proposed $180 million second-lien term loan due 2026. The 6 recovery rating indicates negligible (0%-10%; rounded estimate: 0%) recovery.
S&P said the ratings reflect a view of the company's highly leveraged capital structure and its relatively small position in the intensely competitive auto aftermarket.
© 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.