Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Atlas CC Acquisition Corp. > News item |
Fitch changes Cubic outlook to negative
Fitch Ratings said it changed the outlook for Cubic Corp. and Atlas CC Acquisition Corp. to negative from stable and affirmed their long-term issuer default ratings at B. The agency also affirmed the company's first-lien term loan B and revolver at BB/RR1, issued at Atlas CC.
“The negative outlook reflects Fitch's view that EBITDA leverage and interest coverage metrics will remain weak, above 7x and below 1.75x respectively, through at least the end of 2023. These weaker metrics heighten the risk that unforeseen potential future operational disruption or contract loss could have a more pronounced negative effect on the company.
“Further risks to Cubic's ratings include execution on the company's remaining cost-cutting initiatives, retaining contracts due for renewal, supply chain inefficiencies and maintaining a technological advantage over competitors,” Fitch said 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.