Quantcast
Channel: Daily Bankrupt Company Updates | Bankrupt Company News
Viewing all articles
Browse latest Browse all 4593

Millar Western Forest Products Ratings Lowered

0
0

On March 9, 2017, S&P Global Ratings lowered its long-term corporate credit rating on Millar Western Forest Products Ltd. to CC from B- and its senior unsecured notes to CC from B-. “The downgrade and CreditWatch placement reflect our view of the proposed exchange offering as a distressed exchange,” said S&P Global Ratings credit analyst Alessio Di Francesco. In the proposed exchange, the Company’s 8.5% senior unsecured notes due 2021 would be exchanged partially for 9.0% new senior secured notes due 2022. S&P views the tender for the 2021 notes as stressed because participating noteholders will receive less than the original amount promised. S&P expects the exchange transaction will be completed by April 28, 2017. Read more on distressed companies.

The post Millar Western Forest Products Ratings Lowered appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


Viewing all articles
Browse latest Browse all 4593

Latest Images

Trending Articles





Latest Images