| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for TPC Group Inc. > News item |
S&P cuts TPC Group
S&P said it downgraded TPC Group Inc.’s issuer rating to D from CCC and the issue-level rating on its senior notes to D.
TPC must make scheduled quarterly interest payments due on its $153 million of first-priority 10 7/8% senior notes and semi-annual interest payments due on its $930 million of 10½% senior notes.
“In our view, the company will not make the interest payments when they come due on Feb. 1, 2022, or during the 30-day grace period. We view this as tantamount to a default,” S&P said in a press release.
© 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.