Tupperware Upgraded on Successful Refinancing

Register, or to view the article

On December 14, 2020, S&P Global Ratings raised its issuer credit rating on Tupperware Brands Corporation to B from CCC. The upgrade reflects the Company's improved financial flexibility and liquidity following the refinancing of its near-term maturity, according to the ratings agency. Tupperware struggled to refinance its $600 million senior unsecured notes due June 1, 2021, at suitable terms while it worked to improve the performance of its business, says S&P Global. Under the new facilities, the Company will not face any near-term debt maturities until 2023.

Read more Bankruptcy News