DBRS confirms Armtec

DBRS said it confirmed the issuer rating of Armtec Holdings Ltd. at B (high), but changed the trend to negative.

The confirmation recognizes that the company has significantly reduced its financial risk by securing committed financing from Brookfield Management Inc., the agency said.

This has removed the uncertainty regarding refinancing in the next 24 to 30 months, allowing the company to focus on turning its operations around, DBRS said.

The negative trend reflects Armtec's weak financial profile and the headwinds it faces to stage a recovery, the agency said.

© 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.