TEXT-S&P says Precision Engineered rtgs unchanged after reduced pricing on debt

Sept 5 - Standard & Poor's Ratings Services said today that its ratings and outlook on U.S.-based component manufacturer Precision Engineered Products LLC (PEP) (B+/Stable/--) are not affected by the company's announcement that it has reduced pricing on its $190 million senior secured credit facilities. PEP reported that the amendment reduced pricing by 75 basis points, which could save about $1.5 million in annual interest. As of June 30, 2012, its total debt to EBITDA was about 2.7x. We expect leverage to improve modestly in 2012 because stability in energy end markets is likely to offset weak demand from medical and transportation markets.