S&P: Revere Industries on watch

Standard & Poor's said it placed its ratings on Revere Industries LLC, including the B corporate credit rating, on CreditWatch with negative implications.

The agency said that the rating action follows news of the company's plans to amend covenants on its senior credit facility.

According to S&P, the company has obtained a 60-day waiver from its first- and second-lien creditors and expects to amend the facility to allow more lenient covenants in December.

© 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.