S&P lowers Accellent

Standard & Poor's said it lowered its corporate credit rating on Accellent Inc. to B from B+ and the outlook is stable.

This action reflects expectations of subpar performance in the company's cardiovascular and orthopedics divisions for the remainder of the year, reflecting weak end markets and delayed product introductions in cardiovascular and orthopedics, respectively, the agency said.

According to S&P, the rating on Accellent reflects the position of its wholly owned subsidiary, Accellent Corp., as a leading, but small, participant in the fragmented medical device contract manufacturing business.

© 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.