| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers G > Headlines for Great Lakes Dredge & Dock Corp. > News item |
S&P lifts Great Lakes Dredge
Standard & Poor’s said it raised the corporate credit rating on Great Lakes Dredge & Dock Corp. to B from B-.
The agency also said it raised the rating on the company’s senior unsecured notes, including its $25 million add-on, to B from B-. The 4 recovery rating on the company’s senior unsecured notes is unchanged and indicates 30% to 50% expected default recovery.
The outlook is stable.
The ratings reflect improved debt leverage at the company, as well as a view that credit measures will continue to improve in 2015, S&P said.
The sale of the demolition business earlier this year has improved operating performance and debt leverage, the agency added.
© 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.