| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for Trinseo NA Finance SPV LLC > News item |
S&P trims Trinseo
S&P said it lowered its ratings on Trinseo plc’s senior secured debt to B- from B and revised the recovery rating to 2 (75%) from 1 (95%) and its senior unsecured debt to CCC from CCC+ and revised the recovery rating to 5 (15%) from 4 (30%).
Trinseo used its subsidiary Trinseo NA Finance SPV LLC to issue $1.077 billion of senior secured debt due in 2028.
Trinseo is expected to use the proceeds from the new secured debt, issued through Trinseo NA, to redeem the outstanding principal of the $660 million term loan B due in 2024 and $385 million of the outstanding $500 million senior unsecured notes due in 2025.
The negative outlook is unchanged.
© 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.