Moody’s cuts Macom Technology

Moody's Investors Service said it downgraded Macom Technology Solutions Holdings, Inc.'s corporate family rating to B3 from B2, probability of default rating to B3-PD from B2-PD and senior secured credit facilities rating to B3 from B2.

Moody's also affirmed the speculative grade liquidity rating of SGL-3.

The outlook is stable.

“The downgrade of the corporate family rating reflects the execution risks involved in Macom's planned operational restructuring, which aims to reduce the cost structure as revenues are expected to remain significantly below historical levels,” the agency said in a news release.

© 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.