S&P cuts Pefco outlook

Standard & Poor's said it revised the outlook on its long-term rating on Private Export Funding Corp. to negative from stable.

At the same time, the agency said it affirmed its A+ long-term and A-1 short-term issuer credit ratings on the company.

"The outlook revision brings Pefco in line with the negative outlook on the unsolicited long-term rating on the United States of America," said S&P credit analyst Nikola Swann in a news release.

"Pefco receives a notch of support under our criteria through its relationship with the Export-Import Bank of the United States," Swann said.

The agency said the company's long-term issuer credit rating of A+ reflects its view of a moderate likelihood of government support should circumstances require.

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