| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for Things Remembered, Inc. > News item |
S&P lowers Things Remembered
Standard & Poor’s said it lowered the corporate credit rating on TRM Holdings Corp., the parent of Things Remembered Inc., to B- from B.
The agency also said it lowered the ratings on the company’s senior secured credit facility, consisting of a $30 million revolver and a $147.7 million term loan, to B- from B.
The recovery rating of 3 is unchanged on these debt instruments, reflecting 50% to 70% expected default recovery.
The ratings also were placed on CreditWatch with negative implications.
The downgrade reflect an expectation that the company’s performance will remain challenged and it could breach its financial performance covenants in the upcoming quarter if it doesn’t successfully amend its credit agreement, S&P said.
© 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.