Rating recovery

Leveraged loan pricing in Europe may soon lose some of its art and gain a bit more science as recovery ratings begin to help determine the profile of a particular credit, says PEI's Deal Mechanic

RatingRecovery Expectation1+100% of principal. Highest expectation of recovery1100%. High expectation280 – 100%. Substantial recovery expected350 – 80%. Meaningful recovery expected425 – 50%. Marginal recoveries50 – 25%. Negligible recoveriesCompanyRecovery RatingBrenntag3Cognis3Focus Wickes2Jefferson Smurfit2Legrand2MTU2NTL1Safilo3Sanitec2