| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers E > Headlines for Evertec Group, LLC > News item |
S&P gives BB- to Evertec notes
Standard & Poor’s said it assigned its BB- issue-level rating and 3 recovery rating to Evertec Group, LLC’s proposed $400 million senior secured notes due 2022. The 3 recovery rating indicates an expectation of meaningful (50%-70%) recovery in the event of a payment default.
The company will use the proceeds from the new notes to repay its existing term loan B due 2020. The existing revolver and term loan A recovery and issue-level ratings are unaffected by this transaction.
S&P said the BB- corporate credit rating and stable outlook on the company remain 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.