| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers D > Headlines for Doosan Bobcat Inc. > News item |
S&P rates Doosan Bobcat loan BB
S&P said it assigned its BB long-term issue rating to Doosan Bobcat Inc.'s planned $850 million senior secured term loan. The recovery rating on the senior secured debt remains at 3.
The agency also affirmed the BB long-term issue rating on Doosan Bobcat's senior secured notes with a recovery rating of 3 (55%).
The company plans to use the proceeds to repay a $1.126 billion term loan.
The outlook is stable. “We expect the company to maintain robust credit metrics over the next 12 months on the back of steady earnings. Due to its partial debt redemption of about $300 million through refinancing, its cash balance could go down to about $500 million from $803 million as of end-December 2021. The balance should still be at the higher end of its cash level of $200 million-$500 million in the past several years,” 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.