|
|
Article: S&P Raises Wabtec's Senior Unsecured Debt Rating, Affirms Other Ratings.
- Article from:
- PR Newswire
- Article date:
- July 27, 2000
CopyrightCOPYRIGHT 2000 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
WILMERDING, Pa., July 27 /PRNewswire/ --
Wabtec Corporation (NYSE: WAB) said Standard & Poor's this week raised its senior unsecured debt rating on the company to double-'B' from single-'B'-plus. In addition, S&P affirmed the company's double-'B' corporate credit rating and its double-'B' bank loan ratings, and termed the outlook on these ratings "stable." The ratings affect $725 million in debt-rated securities.
S&P said the rating upgrade "reflects the improved position of the senior unsecured bondholders as a result of Wabtec's amended and restated bank credit agreement, which is now unsecured and ranks pari passu with the senior ...