S&P: Airborne Health view negative

Standard & Poor's said it revised the outlook on Airborne Health Inc. to negative from developing and affirmed the CCC+ corporate credit rating.

The outlook revision reflects Airborne's delay in requesting an amendment to its credit facility due to violation of its financial covenants for the quarter ended Jan. 31 and continued weak operating performance, according to S&P.

Ratings reflect a highly leveraged financial profile, extremely narrow product focus, customer concentration, small size, aggressive financial policy and the segment's vulnerability to adverse publicity, the agency said.

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