Press release from CNW Group
Armtec Infrastructure Inc. Reports Credit Rating Trend Improvement
Friday, May 10, 2013
Armtec Infrastructure Inc. Reports Credit Rating Trend Improvement16:30 EDT Friday, May 10, 2013
Toronto Stock Exchange: ARF; ARF.DB
GUELPH, ON, May 10, 2013 /CNW/ -Armtec Infrastructure Inc. ("Armtec") (TSX:ARF; ARF.DB) today reported that DBRS has confirmed the Issuer Rating of Armtec Holdings Limited at B and the instrument rating of the Senior Unsecured Debt at B (low) and has changed the trend for both ratings to Stable from Negative.
The trend change to Stable reflects the completion of the refinancing of the Brookfield Facility in December 2012. Armtec has improved its financial flexibility and materially reduced the risks of a near-term default and liquidity concerns as identified in the previous ratings report. The recovery rating is unchanged at RR5. For further information, please see the DBRS website.
About Armtec Infrastructure Inc.
Armtec is a manufacturer and marketer of a comprehensive range of infrastructure products and engineered construction solutions for customers in a diverse cross-section of industries that are located in every region of Canada, as well as in selected markets globally. These markets include Canada's national and regional public infrastructure markets and private sector markets in agricultural drainage, commercial building, residential construction and natural resources. Armtec operates through a network of offices and production facilities across the country. Armtec operates in two business units: Drainage Solutions manufactures and markets corrugated high-density polyethylene pipe, corrugated steel pipe and other drainage related products including small bridge structures. Precast Concrete Solutions manufactures and markets highly engineered precast systems such as parking garages, bridges, sport venues and building envelopes as well as standard precast products such as steps, paving stones and utility vaults.
SOURCE: Armtec Infrastructure Inc.
For further information:
Vice President & Corporate Secretary Armtec Infrastructure Inc.
Tel: (519) 822-0210
Fax: (519) 822-8894