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Article: Fitch Ratings Places DVI's Senior Unsecured Debt on Rating Watch Negative.
- Article from:
- Business Wire
- Article date:
- June 10, 2003
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Business Editors
NEW YORK--(BUSINESS WIRE)--June 10, 2003
Fitch Ratings has placed DVI, Inc.'s (DVI) 'B+' senior unsecured debt rating on Rating Watch Negative. Previously, the Rating Outlook was Negative. Approximately $155 million of senior unsecured debt is affected by this rating action.
Since 2002, Fitch has been concerned regarding DVI's ability to successfully refinance its $155 million of senior unsecured debt due in February 2004. This, coupled with DVI's weak operating results and increased managed leverage, was the basis for the Negative Rating Outlook.
A series of events over the last week has further increased Fitch's ...