S&P places AVSC on watch

S&P said its placed its AVSC Holding Corp. ratings on CreditWatch with negative implications.

“The Covid-19 outbreak has led to an increasing number of corporate event cancellations and lower hotel occupancy rates. We expect this to impair AVSC, an audio-visual technology provider that primarily services corporate events in hotel-based venues,” said S&P in a press release.

The agency expects to resolve the CreditWatch once it assesses the breadth and depth of the reduction of corporate events and business travel, which directly reduces the services hotels need from AVSC.

© 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.