Fitch rates TTM, loans, notes

Fitch Ratings said it assigned BB long-term issuer default ratings to TTM Technologies, Inc. and TTM Technologies Enterprises (HK) Ltd. with a stable outlook.

The agency also assigned a senior secured debt rating of BBB-/RR1 for the ABL facilities, a senior secured debt rating of BB+/RR1 for the term loans, a senior unsecured debt rating of BB/RR4 and a senior subordinated debt rating of B+/RR6.

The actions affect about $1.9 billion of committed, outstanding and to-be-issued debt.

Fitch said TTM has reduced revenue exposure to wireless-related markets through growth in new end-markets such as Automotive, Medical & Industrial Instrumentation and Aerospace & Defense.

© 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.