| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers W > Headlines for Wesco International, Inc. > News item |
S&P assigns BB to Wesco notes
S&P said it rated Wesco Distribution Inc.’s planned $1.5 billion of senior unsecured notes due 2029 and 2032 BB with 4 recovery ratings. The 4 recovery rating indicates average (30%-50%; rounded estimate: 35%) recovery in default.
The ratings are in line with those of Wesco’s outstanding senior unsecured notes.
Parent Wesco International Inc. plans to use the proceeds and cash on hand to redeem all $1.5 billion of Wesco Distribution’s outstanding 7 1/8% senior unsecured notes due in June 2025. “We therefore view the proposed transaction as credit neutral,” S&P said in a statement.
The outlook is stable.
© 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.