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S&P assigns BB+ to EnerSys notes
S&P said it assigned BB+ issue-level and 4 recovery ratings to EnerSys' planned $300 million of senior unsecured notes due 2032.
“All our ratings, including our BB+ issue-level rating and 4 recovery rating on the company's existing $300 million senior unsecured notes due 2027, are unchanged,” S&P said in a press release.
The company plans to use the proceeds to pay down a portion of its unrated term loans and a portion of borrowings under its unrated revolving credit facility. “We view the transaction as leverage neutral,” the agency said.
The outlook is stable.
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