S&P downgrades Alcami

S&P said it downgraded Alcami Corp. to CCC+ from B-.

The agency cited a decline in net revenue and reduced profitability from weaker commercial performance.

It also downgraded the company’s first-lien term loan and revolver to CCC+ from B- and revised the recovery rating to 3 from 2.

The outlook is negative, because S&P views the ongoing cash flow deficits and weaker liquidity hindering improvement in Alcami’s financial performance.

© 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.