Default, Transition, and Recovery: The U.S. Corporate Default Rate Edged Higher In June, To An Estimated 2.7% Jul 12
- Language: English
- Published: July 2012
- Region: United States
U.S. postsecondary education company ATI Acquisition continues to face steep declines in new enrollments, and total enrollments continue to decline. We are lowering our corporate credit rating to 'CCC-' from 'CCC'. We revised our recovery rating on the company's term loan and revolving credit facility to '6' from '3', and lowered the issue-level ratings on this debt to 'CC'. The negative rating outlook reflects our concern that, absent an amendment, the company may be unable to meet financial covenant step-downs by the end of the second quarter of 2012. NEW YORK (Standard & Poor's) Dec. 15, 2011--Standard & Poor's Ratings Services today lowered its corporate credit rating on ATI Acquisition Co. to 'CCC-' from 'CCC'. The rating outlook is negative....
Companies mentioned in this report are: ATI Acquisition Co.
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ATI Acquisition Co.