Innovation Ventures LLC #B+# Corporate And #BB# Debt Ratings Ratings Withdrawn At Company#s Request

Stocks and Financial Services Press Releases Tuesday April 18, 2017 09:16
NEW YORK--18 Apr--S&P Global Ratings

NEW YORK (S&P Global Ratings) April 17, 2017--S&P Global Ratings today affirmed its 'B+' corporate credit rating and 'BB' issue-level rating on Innovation Ventures LLC's $100 million revolving credit facility and $450 million term loan, both due in 2021. We subsequently withdrew all ratings at the request of the company.

"We believe the company's operating performance and credit measures outlook remain largely unchanged from September 2016, when it completed a refinancing that included the $100 million revolving credit facility and $450 million term loan, and reflect our expectation that the company will maintain debt to EBITDA below 2x and funds from operations (FFO) to debt of at least 50% through 2017," said S&P Global Ratings credit analyst Francis Cusimano.

The affirmation also reflects the company's narrow product line and reliance on a single brand, the ongoing risk of legal action, negative publicity related to its products, and a lack of governance controls. The company is a single-product business within a niche category in the U.S. Its 5-hour Energy product accounts for 100% of the company's revenue.

Latest Press Release

Photo Release: KLeasing offers interest-free down payment of up to six months for applicants of K-Auto Finance (New Car) at the Bangkok International Motor Show 2019

Ms. Patcharee Uthairatanakit, KLeasing Deputy Managing Director, recently unveiled the latest campaign to welcome the Bangkok International Motor Show 2019. Under this promotion, applicants signing up for K-Auto Finance (New Car) with KLeasing at the...

SET begins annual social development awards with library development

The Stock Exchange of Thailand (SET) has carried on with its social development awards for 12 consecutive years to encourage organizations and individuals who dedicate their efforts to enhance the society in seven areas: music encouragement, sports...

Fitch Rates EASY BUY#s THB Senior Unsecured Bonds at #AA+(tha)#

Fitch Ratings (Thailand) has assigned a National Long-Term Rating of 'AA+(tha)' to EASY BUY Public Company Limited's (EB; AA+(tha)/Stable) upcoming issue of senior unsecured bonds. The bonds will have a tenor of up to three years, and proceeds from the...

Fitch Rates ICBCTL#s Senior Notes #AAA(tha)#

Fitch Ratings (Thailand) Limited has assigned ICBC (Thai) Leasing Company Limited's (ICBCTL, AAA(tha)/Stable/F1+(tha)) upcoming long-term senior unsecured notes with an issuance size of up to THB6 billion a National Long-Term Rating of 'AAA(tha)'. The...


Related Topics