Research Update: UniTek Global Services Inc. Assigned 'B+' Corporate Credit Rating, Also Assigned Issue-Level Ratings; Outlook Stable Apr 11
- ID: 1820404
- April 2011
- Region: Global
- Standard & Poors
We are assigning our 'B+' corporate credit rating to Blue Bell, Pa.-based UniTek Global Services. We are also assigning issue-level and recovery ratings to UniTek's $175 million senior secured credit facilities. We expect that adjusted leverage will decline over the next year and remain below 3x on a sustained basis. The stable outlook reflects good growth prospects over the next year for the company, as its backlog of projected revenues demonstrates. On April 18, 2011, Standard & Poor's Ratings Services assigned its 'B+' corporate credit rating to Blue Bell, Pa.-based UniTek Global Services Inc. The outlook is stable. At the same time, we issued issue-level and recovery ratings to the company's $175 million senior secured credit facility. This facility consists...
Companies mentioned in this report are:
- UniTek Global Services Inc.
Action: New Rating
Action: Outlook: Stable
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Product Type: Research Update
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