S&P lowers Dynamic Precision

S&P said it lowered the corporate credit rating on Dynamic Precision Group Inc. to B- from B.

The agency also said it lowered the rating on the company's $330 million senior secured credit facility to B- from B. The 3 recovery rating is unchanged, indicating 50% to 70% expected default recovery.

The outlook is stable.

The stable outlook reflects an expectation that the company's credit measures will remain weak, but improve gradually over the next 12- to 24-months, although the pace of this improvement is somewhat uncertain, S&P said.

The company's revenue and earnings are expected to grow modestly next year, driven largely by the launch of new programs and management's restructuring efforts, the agency said.

© 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.