| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers N > Headlines for New Look Retail Group Ltd. > News item |
S&P assigns B- to New Look Retail notes
Standard & Poor's said it assigned its B- long-term corporate credit rating to New Look Retail Group Ltd. The outlook is stable.
At the same time, S&P assigned a B- issue rating to the £500 million and $250 million fixed-rate senior secured notes and to the €175 million floating-rate senior secured notes. All notes are due in 2018 and were issued by the financing vehicle New Look Bondco I plc.
The recovery rating on the senior secured notes is 4, indicating an expectation of average (30%-50%) recovery in the event of a payment default.
The ratings on New Look primarily reflect S&P's view of the company's financial risk profile as "highly leveraged," S&P said. The ratings also reflect New Look's "fair" business risk profile.
© 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.