Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers P > Headlines for Perenti Ltd. > News item |
S&P rates Perenti notes BB
S&P said it rated Perenti Finance Pty Ltd.’s planned five-year $350 million of senior unsecured notes BB with a 3 recovery rating. The 3 rating indicates average (50%-70%; rounded estimate: 50%) recovery prospects in default.
The issuer is the financing unit of Perenti Ltd., which will guarantee the notes and is rated BB.
Perenti will use the proceeds to repay $230 million of its $432.8 million senior notes due 2025, which are also rated BB with a 3(55%) recovery rating. The rest will be allocated toward partially repaying balances drawn under its syndicated debt facilities.
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.