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