UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 6, 2002
DDi Corp.
DDi Capital Corp.
(Exact name of registrant as specified in charter)
Delaware | | 000-30241 | | 06-1576013 |
California | | 333-41187 | | 33-0780382 |
(State or other jurisdiction | | (Commission | | (I.R.S. Employer |
of incorporation) | | File Numbers) | | Identification Nos.) |
1220 Simon Circle, Anaheim, CA | | 92806 |
(Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number, including area code (714) 688-7200
Not Applicable
(Former name or former address, if changed since last report)
Item 5. Other Events.
On September 6, 2002, Moody’s Investors Services announced ratings downgrades with respect to DDi Corp., Dynamic Details, Incorporated and DDi Capital Corp. Specifically, Moody’s
(i) lowered to B3 from B1 its rating on Dynamic Details, Inc.’s $24 million senior secured tranche A term loan, due 2004;
(ii) lowered to B3 from B1 its rating on Dynamic Details, Inc.’s $49 million senior secured tranche B term loan, due 2005;
(iii) lowered to B3 from B1 its rating on Dynamic Details, Inc.’s $50 million senior secured revolving credit facility, due 2004, of which no amounts have been drawn;
(iv) lowered to Caa3 from Caa1 its rating on DDi Corp.’s $100 million 6-1/4% convertible subordinated notes, due 2007;
(v) lowered to Caa3 from Caa1 its rating on DDi Corp.’s $100 million 5-1/4% convertible subordinated notes, due 2008;
(vi) lowered its rating to Caa3 from Caa1 for DDi Capital Corp.’s $16 million (maturity value) 12.5% senior discount notes, due 2007, originally issued by Details Holdings Corp.;
(vii) lowered its senior implied rating lowered to B3 from B1; and
(viii) lowered its senior unsecured issuer rating lowered to Caa3 from Caa1.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, DDi Corp. has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
DDi CORP. |
|
| By: | | /s/ JOSEPH P. GISCH
|
| | | Joseph P. Gisch Chief Financial Officer, Secretary and Treasurer |
Date: September 9, 2002
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, DDi Capital Corp. has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
DDi CAPITAL CORP. |
|
| By: | | /s/ JOSEPH P. GISCH
|
| | | Joseph P. Gisch Chief Financial Officer, Vice President and Treasurer |
Date: September 9, 2002
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