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Aquilex Holdings LLC Outlook Revised To Stable From Negative; 'B' Credit Rating Affirmed Mar 10
Standard & Poors, March 2010
Abstract
U.S.-based Aquilex Holdings LLC is refinancing its existing term loans. We are assigning our 'BB-' issue ratings and '1' recovery ratings to the proposed $50 million revolving credit facility and $185 million term loan. We are lowering the issue rating and recovery rating on the company's existing $225 million senior unsecured notes to 'B-' and '5', respectively. We are revising the rating outlook on Aquilex to stable from negative and affirming the other ratings, including the 'B' corporate credit rating. The stable outlook reflects the increased headroom under financial covenants and modest improvements in demand that should support Aquilex's liquidity. NEW YORK (Standard & Poor's) March 16, 2010--Standard & Poor's Ratings Services said today that it assigned its 'BB-' issue...
Companies mentioned in this report are: Aquilex Holdings LLC
Action: Affirmed
Action: Downgraded
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.
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.
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