S&P downgrades West

S&P said it lowered all of the ratings on West Corp. by one notch, including the issuer credit rating, to B- from B based on an expectation that its adjusted leverage will remain elevated at about 7x over the next year.

The outlook is stable.

The downgrades reflect steep revenue declines in West's legacy audio conferencing and collaboration business driven by secular industry pressures, intense competition from lower-priced services, reduced demand from customer insourcing and declining call volumes, S&P said.

The stable outlook reflects an expectation that despite top-line pressure from weaker operating trends in West's conferencing and collaboration business its adjusted leverage will remain about 7x over the next year, 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.