Atrium Announces Full Reinstatement of Credit Ratings.DALLAS -- Atrium Companies, Inc. ("Atrium") today announced that each of Moody's and Standard & Poor's has fully reinstated Atrium's prior company and debt credit ratings to B2 and B, respectively. Each of the rating agencies also stated that Atrium's ratings outlook is stable. With the reinstatement of these ratings, Atrium has satisfied its credit rating covenant obligations under its accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. facility. "We are very pleased with today's announcements by the rating agencies," stated Sudan A. Dewan de·wan n. Any of various government officials in India, especially a regional prime minister. [Hindi d , Atrium's recently appointed Chief Financial Officer. "While 2005 was a challenging year, these ratings are evidence that the company's efforts to improve its accounting function and implement enhanced financial controls are paying off." "Most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent" above all, most especially ," noted Mr. Dewan, "the reinstatement of our ratings, together with the delivery of our 2004 audit, means that the company is in full compliance with all of its financial covenants. The focus now will be to drive our growth and productivity initiatives and capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the sales momentum we established in the last half of 2005." Atrium, based in Dallas, Texas, is one of the largest manufacturers and suppliers of residential windows in North America, with sales of approximately $800 million, approximately 7,000 employees and 80 manufacturing facilities and distribution centers in 23 states. Statements in this press release, other than statements of historical information, are forward-looking statements that are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from those projected or suggested herein due to certain risks and uncertainties including, without limitation, operating risks. Those and other risks are described in Atrium's financial statements, copies of which are available from Atrium's Chief Financial Officer. |
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