| Title: | Electrical Components International Inc. Is Downgraded To 'CCC+'; Ratings On Watch Neg |
| Price: | $100.00 |
| Publication Date: | May 02, 2008 |
| Report Type: | News |
| Abstract: | NEW YORK (Standard&Poor's) May 2, 2008--Standard&Poor's Ratings Services said today that it lowered its corporate credit rating on St. Louis, Mo.–based Electrical Components International Inc. (ECI) to 'CCC+' from 'B'. Standard&Poor's also downgraded the company's first-lien bank loan to 'B-' from 'B+' and the company's second-lien bank loan to 'CCC-' from 'CCC+', and placed all ratings on CreditWatch with negative implications. The company had approximately $317 million of debt as of Sept. 30, 2007. "The downgrade and CreditWatch placement reflect a rapid deterioration in liquidity, as ECI most likely will not be able to comply with certain financial covenants in the first quarter of 2008 and future periods; this has resulted in the failure |
| Brief Excerpt: | RESEARCH Ratings Definitions Electrical Components International Inc. Is Downgraded To '###+'; Ratings On Watch Neg Publication date: ##-May-#### Primary Credit Analyst: James T Siahaan, CFA, New York (#) ###-###-####; james_siahaan@standardandpoors.com... |
| Word Count: | 560 |
| Ticker: | 706627Z |
| Issuer: | Electrical Components International Inc. |
| GICS: | Electrical Components & Equipment (20104010) |
| Sector: | Global Issuers, Corporations, Capital Goods, High Technology |
| Country: | United States |
| Region: | United States |
| Format: | 
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