S&P: ICON Health view to stable

Standard & Poor's said it revised its outlook on ICON Health & Fitness, Inc. to negative from stable.

At the same time, S&P affirmed all ratings on the company, including its B- corporate credit rating.

"The outlook revision to negative from stable reflects our belief that, in the absence of meaningful EBITDA improvement over the next few quarters, ICON will be unable to internally fund fixed charges in fiscal 2014," S&P credit analyst Ariel Silverberg said in a news release. (ICON's fiscal year ends May 31.)

The B- rating reflects the agency's assessment of ICON's financial risk profile as "highly leveraged" and the assessment of its business risk profile as "vulnerable," according to criteria.

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