Research Update: Peraton Corp. Outlook Revised To Negative On Weaker Earnings And Cash Flows; 'B' Rating Affirmed - S&P Global Ratings’ Credit Research

Research Update: Peraton Corp. Outlook Revised To Negative On Weaker Earnings And Cash Flows; 'B' Rating Affirmed

Research Update: Peraton Corp. Outlook Revised To Negative On Weaker Earnings And Cash Flows; 'B' Rating Affirmed - S&P Global Ratings’ Credit Research
Research Update: Peraton Corp. Outlook Revised To Negative On Weaker Earnings And Cash Flows; 'B' Rating Affirmed
Published Apr 15, 2024
7 pages (2739 words) — Published Apr 15, 2024
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Peraton Corp.'s earnings and cash flows are likely to be weaker than expected through 2025 as some contracts are underperforming. S&P Global Ratings affirmed our 'B' issuer credit rating on the company and revised the outlook to negative from stable. At the same time, we affirmed our 'B' issue-level rating on the company's first-lien debt. The '3' recovery rating is unchanged. The negative outlook reflects our expectation that credit ratios will be weaker than previous anticipated through 2025. The negative outlook reflects our expectation that debt to EBITDA will be above 8x and free cash flow will be near zero in 2024. We could lower the rating if debt to EBITDA remains above 7.5x and S&P Global Ratings-adjusted free cash

  
Brief Excerpt:

...- Peraton Corp.'s earnings and cash flows are likely to be weaker than expected through 2025 as some contracts are underperforming. - S&P Global Ratings affirmed our 'B' issuer credit rating on the company and revised the outlook to negative from stable. - At the same time, we affirmed our 'B' issue-level rating on the company's first-lien debt. The '3' recovery rating is unchanged. - The negative outlook reflects our expectation that credit ratios will be weaker than previous anticipated through 2025....

  
Report Type:

Research Update

Ticker
1499820D
Issuer
Peraton Corp.
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Peraton Corp. Outlook Revised To Negative On Weaker Earnings And Cash Flows; 'B' Rating Affirmed" Apr 15, 2024. Alacra Store. May 07, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Peraton-Corp-Outlook-Revised-To-Negative-On-Weaker-Earnings-And-Cash-Flows-B-Rating-Affirmed-3152582>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Peraton Corp. Outlook Revised To Negative On Weaker Earnings And Cash Flows; 'B' Rating Affirmed Apr 15, 2024. New York, NY: Alacra Store. Retrieved May 07, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Peraton-Corp-Outlook-Revised-To-Negative-On-Weaker-Earnings-And-Cash-Flows-B-Rating-Affirmed-3152582>
  
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