S&P revises leisure sector companies

S&P said it reviewed most of its recovery and issue-level ratings in the U.S. leisure sector for speculative-grade corporate issuers that were considered under criteria observation (UCO) after the agency published its revised recovery ratings criteria Dec. 7.

With the criteria review complete, the agency said it revised the issue-level and recovery ratings as appropriate.

These rating actions stem solely from the application of the revised recovery criteria and do not reflect any change in the assessment of the corporate credit ratings for issuers of the affected debt issues, S&P explained.

BC Equity Ventures LLC’s senior secured priority revolver was upgraded to BB from BB- with recovery rating revised to 1+ from 1.

Equinox Holdings Inc.’s senior secured rating was upgraded to B+ from B with recovery rating revised to 2H from 3H.

IMG Worldwide Holdings Inc.’s senior secured rating was upgraded to B+ from B with recovery rating revised to 2L from 3H.

Playa Resorts Holding BV’s senior unsecured rating was upgraded to B from B- with recovery rating revised to 4H from 5L.

Travel Leaders Group LLC’s senior secured rating was upgraded to BB- from B+ with recovery rating revised to 2H from 3H.

© 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.