Kratos Defense & Security Solutions Inc. 'B+' Rating Placed On CreditWatch Negative Due To Pending Acquisition
- ID: 1714164
- February 2011
- Standard & Poors
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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