S&P may up Titan Specialties

Standard & Poor's said it placed the B- corporate credit rating on Titan Specialties Ltd. on CreditWatch with positive implications as well as the B ratings on Titan's first-lien credit facility and the CCC rating on Titan's second-lien Hunting credit facility.

The possible upgrade reflects Hunting plc's acquisition of TSI Acquisition Holdings LLC for about $775 million, according to the agency.

TSI Acquisition LLC is the issuer for both the first and the second-lien credit facilities, which are guaranteed by its parent TSI Acquisition Holdings LLC, its general partner and all material domestic subsidiaries.

© 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.