S&P upgrades KeyPoint

Standard & Poor's said it revised the outlook on KeyPoint Government Solutions Inc. to stable from negative and affirmed its B corporate credit rating.

The agency also said it raised the senior secured debt rating to B+ from B and revised its recovery rating to 2 from 3, indicating 70% to 90% expected default recovery.

The revision is because of debt repayment, S&P said.

KeyPoint also is expected to sustain its current level of profitability in 2014 and 2015 based on increased business from the U.S. Office of Personnel Management, the agency said.

The business is not expected to suffer disruptions from government budget constraints over the next year, S&P added.

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