Form 10-K PLANTRONICS INC /CA/ For: Mar 28

Go back to Form 10-K PLANTRONICS INC /CA/ For: Mar 28

S&P Assigns 'BB' Corp. Rating to Plantronics (PLT); Business Risk Profile Deemed 'Fair'

May 18, 2015 11:56 AM EDT

Standard & Poor's Ratings Services today said it assigned a 'BB' corporate credit rating to Plantronics (NYSE: PLT). The outlook is stable.

At the same time, we assigned our 'BB' issue-level rating and '3' recovery rating to the company's $500 million senior unsecured notes due 2023. The '3' recovery rating indicates our expectation of meaningful (50% to 70%; upper half... More

Moody's Assigns 'Ba2' CFR to Plantronics (PLT), Outlook Stable

May 18, 2015 10:49 AM EDT

Moody's Investors Service ("Moody's") has assigned a corporate family rating ("CFR") and probability of default rating ("PDR") of Ba2 and Ba2-PD, respectively, to Plantronics (NYSE: PLT). Moody's also assigned an SGL-1 speculative grade liquidity ("SGL") rating and Ba2 ratings to PLT's proposed $500 million senior unsecured notes (Notes). The ratings outlook is stable.

The proceeds from the Notes will be used to i) terminate and repay the approximate $151 million balance outstanding under PLT's $200 million senior unsecured revolver (Old Revolver) and ii) repurchase PLT's common stock with the remaining net proceeds. Separately, the... More