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S&P cuts Advanced Integration
S&P said it downgraded Advanced Integration Technology LP and its first-lien debt to B from BB-. The 3 recovery rating on the debt is unchanged.
“Credit metrics were weaker in 2019 than we had previously expected, with S&P adjusted debt to EBITDA of about 5.2x compared to our previous expectations of 4x-4.4x and we now expect debt to EBITDA of above 8x in 2020,” S&P said in a press release.
The outlook is negative.
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