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S&P lifts Boart Longyear view
Standard & Poor's said it revised its outlook on Boart Longyear Ltd. to positive from stable.
At the same time, the agency said it affirmed all ratings on Boart Longyear, including the BB- corporate credit rating.
"The rating affirmation and outlook revision reflects our expectation that BLY's operating performance will continue to benefit from relatively high metal prices over the next several quarters, which we expect will result in a continued high level of exploratory drilling and hence demand for BLY's products and services," said S&P credit analyst Megan Johnston in a news release.
S&P said it expects this to enable the company to maintain credit metrics at a level that would be considered good for the rating.
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