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Research Update: Vangent Inc. Ratings Withdrawn After General Dynamics Corp. Acquires Company Oct 11 Product Image

Research Update: Vangent Inc. Ratings Withdrawn After General Dynamics Corp. Acquires Company Oct 11

  • Published: October 2011
  • Standard & Poors

Abstract
On Oct. 3, 2011, Standard & Poor's Ratings Services withdrew its corporate credit rating and issue-level and recovery ratings on Vangent Inc. following General Dynamics Corp.'s announcement that it had completed its acquisition of Vangent. The outstanding balance on under Vangent's $240 million term loan B due 2013 and $190 million senior subordinated notes due 2015 were repaid as part of the transaction, and its $50 million revolver was also terminated. We withdrew all ratings at the company's request. Ratings Withdrawn To From Vangent Inc. Corporate Credit Rating NR/-- B+/Stable/-- Senior Secured NR BB Recovery Rating NR 1 Subordinated NR B- Recovery Rating NR 6...

Companies mentioned in this report are:
- Vangent Inc.

Action: Withdrawn

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 READ MORE >

- Vangent Inc.

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