DBRS Changes Armtec Holdings Limited to D and Discontinues All Ratings

DBRS Limited (DBRS) has today changed the Issuer Rating of Armtec Holdings Limited (Armtec or the Company) to D from SD and then discontinued all ratings.

The rating actions follow Armtec’s announcement on April 29, 2015, that it has obtained court order protecting the Company and its subsidiaries under the Companies Creditors Arrangement Act. At the same time, the Company entered into a definitive agreement to sell substantially all of its assets to Armtec Operating LP, an affiliate of Brookfield Capital Partners Fund III LP, as an arrangement in terms described as “Brookfield Transaction” announced in the Company’s press release on February 25, 2015.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

The applicable methodology is Rating Companies in the Industrial Products Industry, which can be found on our website under Methodologies.