S&P trims Anastasia Holdings

S&P said it downgraded Anastasia Holdings LLC and the rating on the company’s first-lien facility to B- from B.

The recovery rating for the facility remains at 3, denoting an expectation for meaningful (50%-70%, rounded estimate 60%) recovery in the event of a payment default.

“Anastasia Holdings LLC’s (Anastasia Beverly Hills or ABH) second quarter 2019 results were worse than we expected because of continued declines in the U.S. prestige color cosmetics market, resulting in high leverage and deteriorating cash flow,” said S&P in a press release.

The outlook is negative.

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