trending Market Intelligence /marketintelligence/en/news-insights/trending/_wWdbh7Ea7dss7VbUNhbjA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Report: Apollo-owned Constellis appoints adviser for debt restructuring plan

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Report: Apollo-owned Constellis appoints adviser for debt restructuring plan

Apollo Global Management Inc.-backed Constellis Group Inc. has hired PJT Partners Inc. to help the defense contractor devise a restructuring plan to address its debt, which stood at $1.2 billion as of June 30, The Wall Street Journal reported, citing people familiar with the matter.

Constellis is in the midst of a cash crunch after a decrease in demand on security contracts for the U.S. State Department in Iraq and Afghanistan and the declining revenue on its base operations contract in Guantanamo Bay in Cuba, the sources said.

In the quarter ended June 30, the company's revenues were down 3.5% year over year to $417 million, while its adjusted EBITDA dropped 26% to $32 million, people familiar with the matter told the Journal.

Constellis recently closed a sale and leaseback of its flagship training facility in Moyock, N.C., in an attempt to infuse capital into the business. However, its liquidity remained tight to just $33 million of cash and $18 million of financing on its revolver as of June 30, according to the report.

Constellis and Apollo declined to comment, while PJT did not respond to the Journal's requests for comment.