S&P: Heckler & Koch view to negative

Standard & Poor's said it revised its outlook on Heckler & Koch GmbH to negative from stable.

The agency also said it affirmed the B- long-term corporate credit rating and the B- issue rating on the $120 million 9¼% senior secured notes issued by the group. The recovery rating is unchanged at 4.

The ratings reflect the group's high leverage, aggressive financial policy, small size, limited liquidity and low customer and geographic diversification, S&P said.

The company benefits from leading niche market positions, strong technological expertise and good visibility on revenues, the agency said.

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