Moody's reviews DeCrane

Moody's Investors Service said it placed DeCrane Aerospace, Inc.'s Caa1 corporate family and probability-of-default ratings under review for downgrade.

Also under review are the company's $30 million guaranteed first-lien revolving credit facility due 2013 rated B2 (LGD2, 29%), $195 million guaranteed first-lien term loan due 2013 rated B2 (LGD2, 29%) and $150 million guaranteed second-lien term loan due 2014 rated Caa2 (LGD5, 82%).

The action follows prospects for declining volumes in the business jet market, according to the agency. The review will cover the impact of the soft business jet market and economic weakness on DeCrane's expected performance and liquidity profile.

© 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.