U.S. outsourcing firm Inmar is entering into a $240 million credit facility, using the proceeds to retire existing debt and pay a dividend to equityholders. We expect stable operating trends in the near term and for Inmar to reduce debt with free cash flow. We are assigning a preliminary 'B+' corporate credit rating to the company and a preliminary 'B+' issue-level rating and preliminary '4' recovery rating to the credit facilities. The stable outlook reflects our expectations that Inmar will increase profits moderately in the near term, reduce debt with free cash flow and enhance credit protection measures. On July 13, 2011, Standard & Poor's Ratings Services assigned its preliminary 'B+' corporate credit rating to the Winston-Salem, N.C.-based Inmar Inc....
Companies mentioned in this report are: Inmar Inc.
Action: New Rating
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