|
|
 |
|
Viewing report
|
|
|
|
Bulletin: URS Corp.'s Ratings And Outlook Unaffected By Its Purchase Of Apptis Holdings Inc.
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 28, 2011--Standard & Poor's Ratings Services said today that its ratings and outlook on U.S.-based engineering, construction, and technical services provider URS Corp. ('BB+/Positive') remain unchanged following its announcement that it has agreed to acquire federal government information technology and communications services provider Apptis Holdings Inc. The acquisition should complement the current engineering, construction, and technical services that URS provides to federal agencies. The net purchase price is $260 million in cash. As of Dec. 31, 2010, the firm's liquidity sources included cash balances of $575 million. We believe the company has some capacity for acquisitions at the current rating level. If URS appears to us likely to sustain its good operating performance and...
Companies mentioned in this report are: URS Corp.
Action: Bulletin
|
|
|
|
