S&P lifts FTS to positive

Standard & Poor's said it revised the outlook on FTS International Inc. to positive from stable and affirmed the company's B- corporate credit rating.

The agency also said it affirmed a B- rating on FTS International's senior secured term loan. The 4 recovery rating on the term loan is unchanged.

The company is planning to refinance its term loan with new secured debt, which has o immediate impact on the recovery rating,, S&P said.

The positive outlook reflects an expectation that debt-to-EBITDA will improve to 3.5x by year-end 2014, the agency said.

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