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Goes beyond a borrower's corporate credit rating
Standard & Poor's Bank Loan & Recovery Ratings are issue-specific ratings that go beyond the overall corporate creditworthiness of the borrower to capture the impact of covenants, collateral and other repayment protection -- provided specifically to holders of the senior bank debt. Bank loan ratings may be higher than the borrower's corporate credit ratings, depending on the extent of the extra protection provided to bank lenders.
Helps substantiate the extra protection that senior lenders may have in relation to
bondholders or other creditors
Expands a loan's initial investor base and improves its secondary market liquidity
Increases the comfort level of investors (especially institutional investors), specialized
loan funds and other buyers who may not be traditional lenders or have large internal credit staffs.
For more information contact:
Terry Streicher +1 212 438 7196
Paul Watters +44 (0)20 7176 3542
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