| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers L > Headlines for LTR Holdco Inc. > News item |
S&P lowers LTR Holdco, notes to CCC+
S&P said it lowered its corporate credit rating on LTR Holdco Inc. to CCC+ from B-.
The outlook is negative.
At the same time, the agency lowered the ratings on the company's senior notes to CCC+ from B- and revised the recovery rating to 4 from 3, indicating an expectation of average (30% to 50%, low end of the range) recovery in the event of a payment default.
"The downgrade on LTR reflects our revised estimates of the company's increased leverage, which we now view as unsustainable," S&P credit analyst Stephen Scovotti 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.