Form 6-K SMART Technologies Inc. For: May 14
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S&P Cuts SMART Technologies (SMT) Rating to 'B-'; Outlook Negative
May 15, 2015 3:43 PM EDTStandard & Poor's Ratings Services said it lowered its corporate credit rating on Calgary, Alta.-based interactive display producer SMART Technologies Inc. (Nasdaq: SMT) to 'B-' from 'B'. The outlook is negative.
At the same time, we lowered our issue-level rating on SMART's US$125 million term loan. The '1' recovery rating on this loan is unchanged, and indicates our expectation for very high (90%-100%) recovery in the event of a default.
"We base the downgrade on our expectation that the company's operating performance will materially weaken in the next 12 months owing to... More
