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S&P: LTX cut to negative
Standard & Poor's said it revised its outlook on LTX Corp. to negative from stable following the company's preliminary results for the quarter ended October.
The corporate credit rating is affirmed at B and the subordinated debt is affirmed at CCC+.
S&P said the outlook revision reflects concerns arising from the company's $38 million use of cash in the most recent quarter due to sharply reduced sales, which fell 47% to $43 million.
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