S&P: AmeriQual view negative

Standard & Poor's said it revised its outlook on AmeriQual Group LLC to negative from stable and affirmed its B+ corporate credit and local-currency ratings.

The outlook revision reflects declining earnings and deteriorating credit protection measures as a result of lower military sales, according to the agency.

For the 12 months ended June 30, the company's debt-to-EBITDA ratio was above 5 times, up from 3.3 times.

The ratings reflect its limited product diversity, modest revenue base and high debt levels, S&P said.

These factors are offset somewhat by its position as a leading provider of field rations to the U.S. military, the agency said.

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