| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers D > Headlines for Dayton Superior Corp. > News item |
Fitch cuts Dayton, loan, preferreds
Fitch Ratings said it downgraded Dayton Superior Holdings, LLC’s issuer default rating to CCC from B.
The agency also downgraded Dayton Superior Corp.’s long-term issuer default rating to CCC from B, senior secured term loan to CCC+/RR3 from B+/RR3 and preferred units to CC/RR6 from CCC+/RR6.
The downgrade reflects Dayton Superior's worse-than-anticipated performance in 2017 and the agency’s expectation that margins will weaken further in the first half of 2018.
“Dayton Superior reported a meaningful decline in operating margins in 2017 due to rising input costs, operational issues and disruptions from hurricanes in Houston and Florida,” the agency said in a news release.
“The company has been addressing its operational issues and Fitch expects some modest improvement in margins this year, although persistent inflation in raw materials will continue to pressure margins in the near-term.”
© 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.