E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 10/28/2013 in the Prospect News Bank Loan Daily.

S&P affirms Atlantic Aviation loan

Standard & Poor's said it affirmed its BB- corporate credit rating on Atlantic Aviation FBO Inc. The outlook is stable.

At the same time, S&P affirmed the BB- issue rating on the company's term loan B, which the company is increasing to $515 million from $465 million, and the $70 million revolver, which is unchanged. The 3 recovery rating on the facility is unchanged and indicates an expectation of meaningful (50%-70%) recovery in the event of payment default.

Atlantic Aviation intends to issue an incremental $50 million term loan B and plans to use the proceeds for a distribution to its parent, Macquarie Infrastructure Co., an acquisition, and general corporate purposes. The company's credit metrics will remain largely unchanged.


© 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.