S&P revises Kemet view to stable

Standard & Poor's said it revised its outlook on Kemet Corp. to stable from negative.

The agency affirmed Kemet’s ratings, including the B- corporate credit rating. The issue-level rating on the 10½% secured senior notes due 2018 is B- and the 4 recovery rating on the notes is unchanged.

"Our outlook revision is based on our expectation that recent progress in restructuring across tantalum and film and electrolytic (F&E) product lines will lead to continued expansion in gross margins through fiscal 2015," S&P credit analyst James Thomas said in a news release.

The stable outlook reflects Kemet’s continued revenue and profitability improvement over the past few quarters, recovering from the revenue decline experienced in early fiscal 2014, the agency said.

© 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.