Artesyn Embedded Technologies Inc. Outlook Revised To Positive On Increased Business Demand; 'B-' Rating Affirmed

U.S. power conversion and embedded computing solutions provider Artesyn Technologies Inc. achieved a 16% sequential revenue increase in the quarter ended Sept. 30, 2014, a reversal of prior revenue declines, due to an increase in smartphone charger sales and stability across its other markets. We are affirming our 'B-' corporate credit rating on Artesyn and revising our rating outlook on the company to positive from stable. Our '3' recovery rating and 'B-' issue-level rating for the company's senior secured debt remain unchanged. The positive outlook reflects our expectation that, based on recent trends, Artesyn will achieve low-single-digit revenue growth and stable-to-improving EBITDA margins over the next 12 months. NEW YORK (Standard&Poor's) Dec. 16, 2014--Standard&Poor's Ratings Services

...+ U.S. power conversion and embedded computing solutions provider Artesyn Technologies Inc. achieved a 16% sequential revenue increase in the quarter ended Sept. 30, 2014, a reversal of prior revenue declines, due to an increase in smartphone charger sales and stability across its other markets. + We are affirming our 'B-' corporate credit rating on Artesyn and revising our rating outlook on the company to positive from stable. + Our '3' recovery rating and 'B-' issue-level rating for the company's senior secured debt remain unchanged. + The positive outlook reflects our expectation that, based on recent trends, Artesyn will achieve low-single-digit revenue growth and stable-to-improving EBITDA margins over the next 12 months. NEW YORK (Standard & Poor's) Dec. 16, 2014--Standard & Poor's Ratings Services today said it affirmed its 'B-' corporate credit rating on Tempe, Ariz.-based Artesyn Technologies Inc. and revised the outlook to positive from stable. We also affirmed the 'B-' issue-level...

Ratings Action