Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers K > Headlines for Koosharem Corp. > News item |
S&P puts Koosharem on watch
Standard & Poor's said it placed Koosharem Corp.'s B corporate credit rating on CreditWatch with negative implications.
The watch reflects the difficulty that S&P said it believes the company faces in the near term to meaningfully increase EBITDA and reduce debt, both of which will be essential to complying with an aggressive schedule of tightening leverage covenants.
S&P said it is concerned that deteriorating conditions in the staffing industry could hurt the company's operating performance. Koosharem's bank total leverage covenant also steps down twice during the next six months and could require an amendment by year-end.
© 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.