Kratos Defense & Security Outlook Revised To Negative On Lower Earnings, Budget Uncertainty; 'B' Rating Affirmed Nov 13
- Language: English
- Published: November 2013
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Kratos Defense & Security Solutions Inc. has announced that it has agreed to purchase Herley Industries Inc., a provider of microwave products for military applications, for $270 million plus fees and expenses, funded mostly with debt. We are placing our ratings on Kratos, including the 'B+' corporate credit rating, on CreditWatch with negative implications. We plan to meet with management to get further details on the transaction in order to evaluate the impact of the proposed acquisition on Kratos business and financial risk profile to determine if a downgrade is warranted. NEW YORK (Standard & Poor's) Feb. 9, 2011--Standard & Poor's Ratings Services said today that it has placed its ratings, including the 'B+' corporate credit rating, on Kratos Defense...
Companies mentioned in this report are: Kratos Defense & Security Solutions Inc.,Herley Industries Inc.
Action: On CreditWatch:Negative
Kratos Defense & Security Solutions Inc.,Herley Industries Inc.