DBRS Releases Report on Armtec

DBRS has today released a report on Armtec Holdings Limited (Armtec or the Company) that provides further detail on the recent confirmation of the ratings and trend change. On September 1, 2011, DBRS confirmed the Issuer Rating of Armtec at B (high) but changed the trend to Negative.

The confirmation recognizes that the Company has significantly reduced its financial risk by securing committed financing (the Brookfield Facility) from Brookfield Management Inc. (BAM; rated A (low) by DBRS). This has removed the uncertainty regarding refinancing in the next 24 to 30 months, allowing the Company to focus on turning its operations around. The Negative trend reflects the fact that Armtec’s financial profile is weak and it faces significant headwinds to stage a recovery.

To obtain a copy of the report or the September 1, 2011, press release, please see the links under Related Research or contact us at info@dbrs.com.