'B+' issue rating to Sonic Automotive Inc.'s proposed $200 million
senior subordinated debt offering. We assigned this debt a recovery rating of
'5', reflecting our expectation that lenders would receive modest (10%-30%)
recovery of principal in a default. The proposed notes will mature in June 2022.
At the same time, we raised the issue rating on the company's outstanding $210
million, 9% senior subordinated notes due
0 comments:
Post a Comment