Moody’s revises AAC outlook to negative

Moody’s Investors Service said it revised its outlook for AAC Technologies Holdings Inc. to negative from stable and affirmed its Baa3 issuer and senior unsecured ratings.

"The negative outlook reflects our expectation that the proposed acquisition of Premium Sounds Solutions will weaken AAC Technologies' financial buffers and bring execution risks. The company's leverage will rise as a result of increased debt and lower profitability due to greater expenses. Execution risks arise from integrating the target's teams and operations, which are more geographically diverse than AAC Technologies'," said Gerwin Ho, a Moody's vice president and senior credit officer, in a press release.

© 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.