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Prospect News home > News index > List of issuers G > Headlines for Global A&T Electronics Ltd. > News item
Published on 9/1/2017 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

Fitch downgrades GATE to RD

Fitch Ratings said it downgraded Global A&T Electronics Ltd.'s (GATE) long-term foreign- and local-currency issuer default ratings to RD (restricted default) from C.

The downgrades follow the expiration of the 30-day grace period after the company failed to pay interest of $56 million on its $1.1 billion 2019 senior secured notes. The coupon payment was due on Aug. 1, with the 30-day grace period expiring on Aug. 31.


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