S&P affirms Directed Electronics

Standard & Poor's said it affirmed its B+ corporate credit rating on Directed Electronics Inc. and affirmed its B+ senior secured bank loan rating and 3 recovery rating on the company's $181 million of senior secured credit facilities.

The outlook is stable.

Privately held Directed Electronics, controlled by unrated Trivest Partners LP, does not file financial statements with the Securities and Exchange Commission.

S&P said the ratings affirmation follows the company's announcement of its intent to issue $45 million in debt to acquire privately held Definitive Technology LLP in a transaction scheduled to close this month. Definitive will represent about 14% of Directed's sales after the combination.

© 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.