ATI Acquisition Co. Rating Lowered To 'CCC-' On Enrollment Declines Dec 11
- ID: 2033422
- December 2011
- Standard & Poors
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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