December 10, 2012 / 10:59 AM / 5 years ago

TEXT-S&P summary: CRC Breeze Finance S.A.

(The following statement was released by the rating agency)

Dec 10 -

===============================================================================

Summary analysis -- CRC Breeze Finance S.A. ----------------------- 10-Dec-2012

===============================================================================

CREDIT RATING: None. Please see issue list. Country: Luxembourg

Primary SIC: Special Purpose

Program

===============================================================================

Rationale

The long-term debt rating on the EUR300 million class A senior secured amortizing notes, issued by CRC Breeze Finance S.A. (Breeze Two), is 'B-'. The long-term debt rating on the EUR50 million class B subordinated notes, also issued by Breeze Two, is 'C'. The outlook on both types of debt is stable.

In addition, Breeze Two has EUR120 million of class C notes (not rated) outstanding, which rank below the class A and B notes. The class A and C notes mature in 2026, whereas the B notes mature in 2016.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below