S&P affirms Stratos Global

Standard & said it affirmed its BB- long-term corporate credit rating on Stratos Global Corp. following the company's announcement that it will acquire a small company, make an equity investment in a second and complete a substantial issuer bid.

At the same time, S&P affirmed its BB- bank loan rating and a 3 recovery rating on the company's senior secured credit facility, which is secured by substantially all of the company's assets.

Combined, S&P said the transactions reduce the company's financial flexibility and will result in increased leverage, as the company will have less cash on hand and up to $50 million more in debt than initial expectations.

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