S&P gives Mauser Packaging notes B

S&P said it assigned its B issue-level rating and 3 recovery rating to Mauser Packaging Solutions Holding Co.'s proposed $150 million senior secured notes due 2024. The 3 recovery rating indicates an expectation for meaningful (50%-70%; rounded estimate: 55%) recovery in the event of a payment default.

The proposed notes will be governed by the same indenture as the company's senior secured notes due 2024.

Proceeds will be used to provide added liquidity and for general business purposes, 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.