S&P lowers DJO Global to stable

Standard & Poor's said it affirmed the B- corporate credit rating on DJO Global Inc. and revised its outlook to stable from positive.

The company announced plans to wind down its Empi product line, including transcutaneous electrical nerve stimulation, neuromuscular electrical nerve stimulator and other products, given continued reimbursement pressures.

The agency also said it reduced the 2016 forecast on the company to reflect the absence of this product line, as well as an expectation for some incremental one-time wind-down costs over the next couple of quarters.

S&P also said it also revised growth assumptions modestly lower than the prior forecast.

© 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.