S&P affirms, withdraws Ferrara

S&P said it affirmed the B- corporate credit rating on Ferrara Candy Co. with a stable outlook.

The agency subsequently withdrew all ratings on Ferrara, including the corporate credit rating, the B- issue-level and 3 recovery ratings on the company's $535 million first-lien term loan due 2023, and the CCC issue-level and 6 recovery ratings on the company's $140 million second-lien term loan due 2023.

S&P said the action follows Ferrero Group's acquisition of the company and repayment of its debt.

© 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.