S&P drops Cohr

Standard & Poor's said it lowered its corporate credit rating on Cohr Holdings Inc. (doing business as Masterplan Inc.) to B- from B.

The outlook remains negative.

At the same time, the agency said it lowered the rating on the company's senior secured first-lien credit facilities to B- from B+ and it revised the recovery rating on this debt to 4 from 2.

S&P added that the downgrades reflect Masterplan's much weaker-than-expected performance and erosion of its financial risk profile, as well as the recent loss of its largest customer.

© 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.