US - Wolverine Tube's credit ratings - 0 views
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Panos Kotseras on 26 Mar 09Standard & Poor has announced that it placed credit ratings for Wolverine Tube Inc. on CreditWatch. The decision includes its 'CC' corporate credit rating and 'C' senior unsecured debt. Wolverine Tube announced its decision regarding an exchange offer of senior notes due 2009 for new ones due 2012. Given the current market conditions and the financial position of the company, this decision raises default risk levels. Standard & Poor will monitor the exchange offer.