Fitch Places Alliant Techsystems on Rating Watch Negative on Announcement of Bushnell Acquisition

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has placed the ratings for Alliant Techsystems, Inc.'s

on Rating Watch Negative following the company's announcement that it has agreed to acquire Bushnell Group Holdings, Inc., (Bushnell) from the MidOcean Partners for approximately $1 billion. The transaction is expected to close sometime in the fourth quarter of 2013 or the first quarter of 2014, subject to regulatory approval. Fitch expects ATK to use debt to fund the majority of the acquisition cost. A full list of ATK's current ratings follows at the end of this release. KEY RATING DRIVERS Fitch estimates the increase in debt associated with the acquisition will increase ATK's gross debt/EBITDA to above 3.0x on a pro forma