- Language: English
- 54 Pages
- Published: December 2009
- Region: Global
URS Corp.'s Proposed Senior Unsecured Notes, For Flint Energy Acquisition, Rated 'BBB-' Mar 12
- Published: March 2012
- Standard & Poors
NEW YORK (Standard & Poor's) March 8, 2012--Standard & Poor's Ratings Services today assigned its 'BBB-' issue-level rating to URS Corp.'s proposed senior unsecured notes due 2017 and 2022. The U.S.-based engineering and construction company expects to use the proceeds from this offering, as well as borrowings under its existing credit facility, to finance the acquisition of Flint Energy Services Ltd., to pay fees and expenses, and to repay some of Flint's outstanding debt. The proposed new notes contain a change-of-control provision. The 'BBB-' rating and stable outlook on URS reflect our assessment of the company's business risk profile as "satisfactory" and its financial risk profile as "intermediate" according to our criteria. The debt-funded acquisition of Flint will stretch URS'...
Companies mentioned in this report are: URS Corp.,Flint Energy Services Ltd.
Action: New Rating
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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URS Corp.,Flint Energy Services Ltd.