S&P puts Hunter Fan on watch

Standard & Poor's said it placed Hunter Fan Co.'s B corporate credit rating on CreditWatch with negative implications.

"The CreditWatch listing reflects our concerns about Hunter Fan's tight covenant cushion and its ability to reduce debt leverage, given the weak U.S. housing market and economy," S&P analyst Rick Joy said in a statement.

As of Feb. 2, total adjusted debt-to-EBITDA ratio was about 7.4x.

"Although we expect the company's margins will benefit from cost-reduction actions, we believe near-term operating performance is likely to remain challenging, given the current weak economic environment," Joy continued.

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