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ATI Acquisition Co. Rating Lowered To 'CCC-' On Enrollment Declines Dec 11 Product Image

ATI Acquisition Co. Rating Lowered To 'CCC-' On Enrollment Declines Dec 11

  • ID: 2033422
  • December 2011
  • Standard & Poors

Abstract
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.
Action: Downgraded

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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