Contractor that vetted Snowden hires restructuring advisers: WSJ

Reuters News
Posted: Jan 15, 2014 9:00 PM

(Reuters) - U.S. defense contractor Altegrity Inc has hired restructuring advisers as it contends with a debt burden of about $1.8 billion, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

Altegrity is the holding company for U.S. Investigations Services (USIS), the nation's largest private provider of federal government background checks that became the focus of congressional scrutiny last year after it was discovered USIS vetted Edward Snowden before he leaked documents about U.S. spying efforts.

USIS was also responsible for vetting Aaron Alexis, the technology contractor who killed 12 people at the Washington Navy Yard in September.

Owned by private equity firm Providence Equity Partners, Altegrity is working with restructuring bankers at Evercore Partners Inc, the Journal said.

While bankruptcy is not imminent for Altegrity, the company enlisted restructuring advisers to help cope with upcoming debt maturities and evaluate other options to ease its debt burden and work out operational problems, the WSJ said, citing the people.

(Reporting by Zeba Siddiqui in Bangalore; Editing by Stephen Coates)