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S&P lowers Kaman
S&P said it cut Kaman Corp.’s rating to BB from BB+ on the sale of its distribution business and removed the ratings from CreditWatch with negative implications.
“We based the downgrade on the company’s smaller size, less-diversified revenues, and our expectation of more volatile profitability after the divestiture of its distribution business,” said S&P in a press release.
The outlook is stable.
S&P said it estimates the company will achieve modest organic revenue and earnings growth.
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