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| Prospect News home > News index > List of issuers W > Headlines for Williams Scotsman International, Inc. > News item |
S&P ups Williams Scotsman notes
S&P said it raised its issue-level rating on Williams Scotsman International Inc.'s second-lien notes to B+ from B- and revised the recovery rating to 4 from 6.
The 4 recovery rating reflects an expectation for average recovery (30%-50%; 45% rounded estimate) in the event of a default.
The other ratings on Williams Scotsman, including the B+ corporate credit rating on parent WillScot Corp., are unaffected.
The agency said the upgrade reflects the company's recent acquisitions of Acton Mobile and Tyson Onsite, which have increased the size of its rental fleet, resulting in a higher expectation for the company's net enterprise value at default.
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