S&P lowers Radio Systems view to negative

Standard & Poor's said it affirmed the corporate credit rating on Radio Systems Corp. at B and revised the outlook to negative from stable.

The agency also said it affirmed the rating on the $250 million senior secured second-lien notes due 2019 at B. The recovery rating remains at 4, indicating 30% to 50% expected default recovery.

The ratings reflect the company's highly leveraged financial risk profile and weak business risk profile, S&P said.

The company's business risk profile is considered weak, the agency said.

Radio Systems continues to have a narrow product focus in the highly competitive pet supplies industry as the leader in the niche wireless pet containment and training market, S&P 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.