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S&P assigns CCC to Roundy's Supermarkets loan
Standard & Poor's said it affirmed its ratings on the Roundy's Supermarkets Inc., including the B- corporate credit rating. The outlook is stable.
S&P also assigned a CCC issue-level rating and 6 recovery rating to the company's proposed $200 million senior secured second-lien note offering. The 6 recovery rating indicates an expectation of negligible (0%-10%) recovery of principal in the event of default.
"We based our rating on our assessment of Roundy's financial risk profile as 'highly leveraged,'" the agency said.
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