Anchorage Capital Partners related stories
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Blackstone Buying Antares Restaurant GroupBlackstone Group said it will acquire New Zealand fast food chain Antares Restaurant Group, which operates 75 Burger King restaurants, Reuters reported. The firm is buying the stake from Australian private equity firm Anchorage Capital Partners. Terms were not disclosed, but Reuters reported that analysts have estimated the deal around NZ$150 million ($120 million).
- This Week in Debt Performance
As usual, we have a week’s worth of ratings actions on the debt of LBO-backed companies from ratings agencies Standard & Poor’s Investors Ratings Services and Moody’s Investor Service. This week we’ve got two bankruptcies and even more distressed debt exchanges. Company: NCI Building Systems Sponsor: Clayton, Dubilier & Rice Action: S&P raised its corporate credit rating on Houston-based metal building components manufacturer NCI Building Systems Inc. to 'B+' from 'SD' (selective default) and affirmed its 'B+' issue-level rating on the company's $150 million senior secured term loan. Highlight: "The upgrade follows the conclusion of our review of the company's new capital structure upon completion of its recapitalization," said Standard & Poor's credit analyst Thomas Nadramia.