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Bulletin: Wyle Services Corp. Ratings Unaffected By Proposed Senior Secured Credit Agreement Amendment
Standard & Poors, April 2011
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.
Abstract
NEW YORK (Standard & Poor's) April 27, 2011--Standard & Poor's Ratings Services said today that its ratings on El Segundo, Calif.-based government contractor Wyle Services Corp. are unaffected by the proposed amendment to its $335 million first-lien senior secured credit agreement (consisting of a $35 million revolver and a $300 million term loan B, of which $283 million is outstanding). The amendment is being undertaken primarily to revise pricing, but the company will seek to extend the maturity date of the term loan by one year to 2017 and will also seek financial covenant flexibility. The amendment will not alter debt amounts or the collateral package. Standard & Poor's views these actions as neutral to both the corporate credit rating...
Companies mentioned in this report are: Wyle Services Corporation
Action: Bulletin
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