Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers V > Headlines for Viavi Solutions Inc. > News item |
S&P trims Viavi Solutions
S&P said it lowered its ratings for Viavi Solutions Inc. and its senior unsecured notes to BB from BB+. The recovery rating is unchanged at 3.
“Viavi's S&P Global Ratings-adjusted EBITDA margins materially deteriorated over the past couple of quarters and will remain pressured in the near term. Due to lower hardware volume and decreasing operating leverage stemming from lower utilization rates, Viavi's S&P Global Ratings-adjusted EBITDA margins deteriorated to 17.2% in the first quarter of 2024 from 25% during the same period last year and its EBITDA base deteriorated by nearly 50% peak to trough,” the agency said in a press release.
S&P said it expects Viavi’s revenue and EBITDA to decline further given weak demand such that its leverage will stay above the 4x area for the next several quarters.
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.