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ASG Consolidated LLC Ratings Placed On CreditWatch Negative On Covenant Cushion Weakness Dec 11
Standard & Poors, Dec 2011
Abstract
ASG Consolidated LLC recently announced third quarter results, stating that its outlook for operating results for fiscal year 2011 is below prior expectations. We are uncertain regarding ASG Consolidated's ability to comply with the financial covenants contained in its bank credit agreement over the coming quarters. We are putting our ratings on the company, including the 'B' corporate credit rating, as well as the ratings on its subsidiary, American Seafoods Group LLC, on CreditWatch with negative implications. NEW YORK (Standard & Poor's) Dec. 5, 2011--Standard & Poor's Rating Services said today it placed its ratings, including the 'B' corporate credit rating, on ASG Consolidated LLC and its subsidiary, American Seafoods Group LLC, on CreditWatch with negative implications. This means we...
Companies mentioned in this report are: ASG Consolidated LLC,American Seafoods Group LLC
Action: On CreditWatch:Negative
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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