S&P: dcp on negative watch

Standard & Poor's said it placed dcp LLC's B corporate credit rating on CreditWatch with negative implications, along with the B+ rating on its 10¾% senior secured notes due 2015.

The negative watch follows news that a group of investors, including Guggenheim Partners, Mandalay Entertainment and Mosaic Media Investment Partners, entered into a definitive agreement to purchase dcp from RedZone Capital Management, S&P said.

Terms were not disclosed, but press reports indicate the sale price was $370 million, the agency said.

In resolving the CreditWatch, S&P said it will assess the company's new capital structure and any shifts in business strategy.

© 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.