S&P changes DriveTime to negative

Standard & Poor's said it revised its outlook on DriveTime Automotive Group Inc. to negative from stable.

The agency also affirmed the company’s long-term issuer credit rating at B and the rating on its senior secured notes at B.

"The negative outlook reflects DriveTime's heightened leverage and weakened profitability following several quarters of aggressive growth," S&P credit analyst Shakir Taylor said in a news release.

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