Otter Tail Corporation stock trades on the Nasdaq Global Select Market under the symbol OTTR
. The latest investor and corporate information are available at www.ottertail.com.
OTTR provides comprehensive solutions for transplant patient management, which are currently used in over 60 leading transplant centers in the US.
CareDx will pay approximately $16.0 million to acquire OTTR and intends to fund the transaction with cash on hand.
CareDx and OTTR are very aligned in their dedication to improving outcomes for transplant patients, said Peter Maag, CEO of CareDx.
It affirmed the short-term IDR's of OTTR and OTP at 'F3'.
Recently, the contribution of earnings from OTTR's nonregulated operations has increased due to the positive impacts of tax reform and strong performance from its PVC pipe manufacturing businesses.
In the application of Fitch's 'Parent and Subsidiary Rating Linkage' criteria, OTP is considered stronger than its parent, OTTR, due to the low business risk of its regulated utility operations and low leverage.
(DPL), PG&E (PCG), Enron (ENE), Montana Power ( MTP), TECO Energy (TE), Otter Tail Power (OTTR
), Minnesota Power (MPL).
New York: Fitch Ratings has affirmed the long-term Issuer Default Rating (IDR) of Otter Tail Corporation (OTTR) at 'BBB-' and the long-term IDR of its regulated electric utility subsidiary, Otter Tail Power Company (OTP) at 'BBB'.
Due to the risks inherent in the diversified business portfolio, Fitch rates OTTR one notch below its regulated subsidiary OTP.
"We were recognized for having the 3rd Best Supplier Delivery (OTTR
) performance for 2014 out of all the vendors ADI carries.
Developer of OTTR
, software for solid organ transplant centers, and OTTR-HLA, for the laboratory.