Fitch: Harbinger, notes B

Fitch Ratings said it assigned a long-term issuer default rating of B to Harbinger Group Inc., along with a B rating and a recovery rating of RR4 to its $500 million 10 5/8% senior secured notes.

The outlook is stable.

The ratings consider the company's relatively high leverage, adequate debt service capabilities and acquisition-focused operating strategy, Fitch said.

The agency said it believes there is significant execution risk associated with its acquisition strategy and its debt-service capabilities are somewhat constrained due to limits on cash flows.

© 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.