Form 8-K GREATBATCH, INC. For: Sep 17
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S&P Assigns 'B+' Rating to Greatbatch (GB); Outlook Stable
September 21, 2015 1:59 PM EDTStandard & Poor's Ratings Services assigned its 'B+' corporate credit rating to Greatbatch (NYSE: GB). The rating outlook is stable.
At the same time, we assigned a 'B+' issue-level rating to Greatbatch's $1.525 billion credit facility, which consists of a $200 million revolver, a $300 million term loan A, and a $1.025 billion secured term loan B. The senior secured recovery rating is '3', indicating our expectation of meaningful (50% to 70%, at the higher end of the range) recovery in the event of payment default.
We also assigned a 'B-' issue-level rating to Greatbatch's $435 million senior... More
