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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

  • Published: 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 READ MORE >

- UniTek Global Services Inc.

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