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Fitch affirms RadioShack
Fitch Ratings said it affirmed RadioShack Corp.'s long-term issuer default rating at BB, bank credit facility at BBB- and senior notes at BB.
The outlook was revised to negative from stable.
The outlook revision is due to an increase in leverage to the mid-4x range, which is higher than prior expectations that assumed leverage would remain at about 4x, Fitch said.
The ratings continue to reflect RadioShack's positive free cash flow generation and adequate liquidity, the agency said.
Going forward, Fitch said it believes that the pressures on the business profile will make it difficult to maintain historical EBITDA and free cash flow levels, Fitch said.
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