|By Marketwired .||
|July 29, 2014 03:04 PM EDT||
WALNUT CREEK, CA -- (Marketwired) -- 07/29/14 -- ARC Document Solutions (NYSE: ARC), the nation's leading document solutions provider for the architecture, engineering, and construction (AEC) industry, today announced that Standard & Poor's Ratings Services (S&P) has raised ARC's corporate credit rating to 'BB-' from 'B+' with a stable outlook. At the same time, S&P improved the Company's recovery rating on its $200 million term loan to '2' from '3,' and subsequently raised their issue-level rating on the debt two notches to 'BB' from 'B+.'
"Our ability to generate strong cash flows has always provided us with the flexibility and agility we needed to improve the company, regardless of the circumstances," said John Toth, Chief Financial Officer of ARC Document Solutions. "Today, we're using it to substantially de-lever the Company and work down the overhang of our historical recapitalizations. In the past it has fueled our growth, allowed us to develop the potential of our technology, and it preserved our fiscal health during the recession. We were gratified to see Standard & Poor's recognition of our efforts and the quality of our ongoing business with the improvement in their ratings announced earlier this week."
About ARC Document Solutions (NYSE: ARC)
ARC Document Solutions is a leading document solutions company serving businesses of all types, with an emphasis on the non-residential segment of the architecture, engineering and construction industries. The Company helps more than 90,000 customers reduce costs and increase efficiency in the use of their documents, improve document access and control, and offers a wide variety of ways to print, produce, and store documents. ARC provides its solutions onsite in more than 7,700 of its customers' offices, offsite in service centers around the world, and digitally in the form of proprietary software and web applications. For more information please visit www.e-arc.com.
The ratings discussed above have the meanings assigned to them by the rating agency and are not recommendations to buy, sell or hold securities. They are subject to revision at any time by the rating agency. ARC Document Solutions makes no comment as to, or endorsement of, the methodologies or assessments of risk or other assumptions used or made by any credit rating agency in establishing a rating or outlook with respect to the Company or its securities.
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