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S&P revises ADT to highly leveraged
Standard & Poor’s said it affirmed the BB- corporate credit rating on the ADT Corp.
The outlook is stable.
The agency also said it revised ADT’s financial risk assessment to highly leveraged, based on its sustained adjusted debt-to-EBITDA at or more than 5x.
The agency also said it revised its financial profile score to neutral from negative, S&P said.
ADT has stronger financial metrics relative to other alarm-monitoring companies, the agency said.
The ratings also consider the company’s strong brand recognition, leading market position in the residential and small business alarm-monitoring industry and strong base of recurring revenue, S&P said.
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