Prospector
Profile
3-31-003
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| Alion Science and Technology Corp. |
NAICS |
541618 |
| 10 West 35th Street,
Chicago, IL 60616 |
Description |
Engineering Services |
| (312) 567-4000 |
Employees |
3400 |
| http://www.alionscience.com/ |
Revenue |
(mil) |
737.5900 |
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Income |
(mil) |
-42.7700 |
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Assets |
(mil) |
683.9700 |
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Liability |
(mil) |
743.3500 |
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(for the year ended 2007-09-30) |
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Category:
Low Rating
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Event:
Moody's Investors Service lowered Alion Science and Technology Corp.'s Corporate Family Rating and Probability of Default Rating to Caa1 from B3. A change in the PDR impacts the outcome of individual instrument ratings under Moody's Loss Given Default
methodology. Ultimate recovery expectations are subject to a number of uncertainties and were modeled at 50%. As a result, ratings on Alion's secured bank debt and unsecured notes fell with modest revisions to LGD percentages. The rating on the Company's first lien bank debt was lowered to B1, (LGD-2, 18%) from Ba3, (LGD-2, 16%), and the rating on the Company's unsecured notes was lowered to Caa2, (LGD-5, 71%) from Caa1, (LGD-4, 68%). The actions concluded a review for possible downgrade that was announced on February 29, 2008. The review was triggered by liquidity concerns and potential complications from Alion's disclosure of an inability to timely file its financial statements. The outlook is negative.
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Intellectual Property:
The Company's research and development and engineering services do not depend on patent protection. U.S. government contracts often provide government agencies with certain rights to the Company's inventions and copyright works. Similarly, U.S. government contracts often license to the Company patents and copyright works owned by third parties. The Company maintains an active program to track and protect intellectual property. The Company routinely enters into intellectual property assignment agreements with employees to protect its rights to any patents or technologies developed. [SEC Filing 10-K 12-28-07]
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Description:
Alion Science & Technology Corp. provides research and development and engineering
services primarily to agencies of the government, as well as commercial customers both in the U.S. and abroad.
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Officers:
Bahman Atefi (Chair, Pres. & CEO); Edward C. Aldridge (Dir.); Leslie Armitage (Dir.); Lewis Collens (Dir.)
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Auditor:
Deloitte & Touche LLP
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Securities:
5,012,642 common shares outstanding as of February 14, 2007.
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Notes:
There is no established public trading market for the Company's common stock.
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