| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for HSS Financing plc > News item |
S&P assigns HSS Hire notes B
Standard & Poor's said it assigned its B long-term corporate credit rating to HSS Financing plc (trading as HSS Hire).
The outlook is stable.
At the same time, the agency assigned a B issue rating to the £200 million senior secured fixed-rate notes due 2019 issued by HSS. The recovery rating on these notes is 3, indicating an expectation of meaningful (50%-70%) recovery in the event of a payment default.
S&P said the ratings on HSS reflect its assessment of the group's financial risk profile as "highly leveraged" and business risk profile as "weak," as criteria define these terms.
HSS issued £200 million of new senior secured fixed-rate notes and used the proceeds to repay £163.6 million of existing term debt and £29 million of existing shareholder loans and accrued payment-in-kind interest.
© 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.