TRC Cos. Inc. #B# First-Lien Credit Facility Rating Affirmed Following Repricing

Stocks and Financial Services Press Releases Thursday November 30, 2017 08:49
NEW YORK--30 Nov--S&P Global Ratings

NEW YORK (S&P Global Ratings) Nov. 29, 2017--S&P Global Ratings today affirmed its 'B' issue-level rating on TRC Cos. Inc.'s first-lien credit facility following the proposed repricing of its $60 million revolver and $325 million first-lien term loan.

The '3' recovery rating remains unchanged, indicating our expectation for meaningful recovery (50%-70%; rounded estimate: 50%) in the event of a payment default. Although the proposed repricing should modestly reduce TRC's total interest expense, we do not believe that it will have a material impact on the company's credit measures.

Therefore, all of our other ratings on the company remain unchanged. Our ratings on TRC reflect the company's position as a niche engineering, consulting, and construction management firm that participates in multiple end markets across the U.S. Our ratings also incorporate the risks associated with TRC's ownership by a private-equity sponsor, which may choose to increase its debt leverage over time.


Latest Press Release

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 a National Long-Term Rating of 'AAA(tha)'. The notes will be issued under ICBCTL's THB30...

UnionPay offers foodies exclusive fine dining experiences at a special price At Bangkok Restaurant Week 2018

The highly anticipated Bangkok Restaurant Week 2018 from Wongnai is here. The annual festival is bringing foodies fine dining experiences and special deals from over 50 most well-known restaurants across Bangkok. UnionPay, the best payment companion for...

TCEB unveils its 2019 strategy under a brand-new campaign Thailand: REDEFINE Your Business Events

TCEB today announced a launch of its new brand marketing communication campaign "Thailand: Redefine Your Business Events". The new campaign has prompted the bureau to redefine its role as an industry's partner for success. Tapping into the growing...

L1 Treasury จับมือ Airborne Capital ทุ่มทุน 250 ล้านดอลลาร์สหรัฐ เปิดตัว AltitudeOne Aviation

- AltitudeOne Aviation Ltd ("AltitudeOne Aviation") เป็นธุรกิจร่วมทุนที่เปิดตัวโดย LetterOne Treasury Services SA ("L1 Treasury") และ Airborne Capital Limited ("Airborne Capital") - AltitudeOne Aviation จะลงทุนในพอร์ตหลากหลายประเภท...

L1 Treasury and Airborne Capital Commit US$250m to Launch of AltitudeOne Aviation

- AltitudeOne Aviation Ltd ("AltitudeOne Aviation") is a venture launched by LetterOne Treasury Services SA ("L1 Treasury") and Airborne Capital Limited ("Airborne Capital") - AltitudeOne Aviation will invest in a diversified portfolio of in-production...

Related Topics