S&P cuts Dayco

S&P said it downgraded Dayco LLC and the rating on its term loan to B- from B.

“Dayco LLC’s credit ratios are weaker than we previously anticipated due to certain headwinds in its original equipment (OE) segment, continued pressure from big box retailers, tariffs, and certain operational inefficiencies,” said S&P in a press release.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.