| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers U > Headlines for UCI Holdings Ltd. > News item |
S&P lifts UCI view to stable
Standard & Poor’s said it revised the outlook on UCI Holdings Ltd. to stable from negative.
The agency also said it affirmed the company’s CCC+ corporate credit rating and raised the rating on its senior unsecured notes to CCC from CCC- and revised the recovery rating on the notes to 5 from 6, indicating 10% to 30% expected default recovery.
The agency also said it withdrew the ratings on the company’s senior secured debt.
The outlook is stable, reflecting the removal of refinancing risks on its $75 million revolving credit facility over the next 12 months, S&P said.
The company now has greater flexibility to stabilize its business and generate free operating cash flow in 2016, the agency 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.