S&P: LTX outlook now stable

Standard & Poor's said it affirmed its B corporate credit rating and its CCC+ subordinated debt rating on LTX Corp. and revised the company's outlook to stable from negative following LTX's announcement it has priced a public offering of 7 million common shares that will generate about $115 million in proceeds.

S&P said the ratings on LTX reflect very volatile sales levels, high debt levels, substantial customer concentration and a narrow product line. These are only partially offset by the company's adequate cash balances and good technology.

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