The U.S. based financial service company, Standard & Poor (S&P) Rating Services has assigned a “BBB-’’ issue level rating on Tenneco Inc.’s (NYSE:TEN) proposed $700 million of revolving credit facility and $250 million of term loan A. The “BBB-’’ rating reflects lowest investment grade by market participants.
Tenneco intends to refinance the existing credit facilities and redeem $250 million secured notes at an interest rate of 8.125% maturing in 2015. The company has decided … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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