S&P cuts Dynamic Precision

S&P said it downgraded the ratings on Dynamic Precision Group Inc., its term loan and its revolver to CCC from CCC+. The recovery rating on the facilities is unchanged at 3.

“We continue to believe there is a risk that DPG (operating as Paradigm Precision) will be unable to refinance or extend the maturity of its credit facility given the current market uncertainty and the weakness in the commercial aerospace market due to the coronavirus,” S&P said in a press release.

The company’s $70 million revolver and term loan, with about $245 million outstanding, mature in December.

The outlook is developing.

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