PE Debt Watch (Upgrades & Downgrades)
As usual, we have a week’s worth of ratings actions on the debt of LBO-backed companies from ratings agencies Moody’s Investors Service. This week three companies were a mix: one bankruptcy, one downgrade, and one outlook imrovement. Company: Electrical Components International Sponsor: Francisco Partners Action: Moody's lowered the company’s probability of default rating and the corporate family rating to Ca from Caa3 following its filing for protection under Chapter 11 of the US Bankruptcy Code on March 30, 2010. Highlight: The last rating action was on January 6, 2009 at which time Moody's downgraded ECI's corporate family rating to Caa3 from Caa2.
8 April 2010•2 mins read
