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S&P reviews Epiq, debt
Standard & Poor's said it placed its BB- corporate credit rating on Epiq Systems Inc. and the issue-level ratings on its senior secured debt on CreditWatch with negative implications.
The CreditWatch placement follows Epiq's announcement that it is reviewing strategic alternatives that may include acquisitions, divestitures or a going-private or recapitalization transaction.
S&P said it believes that actions resulting from the review could result in leverage increasing to more than 4 times. The company's board of directors also declined an offer by P2 Capital Partners to acquire the company.
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