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Research Update: UniTek Global Services Inc. Assigned 'B+' Corporate Credit Rating, Also Assigned Issue-Level Ratings; Outlook Stable Apr 11 Product Image

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

Abstract
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

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

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