S&P: LMI view to negative

Standard & Poor's said it revised its outlook on LMI Aerospace Inc. to negative from stable.

At the same time, the agency affirmed the B+ corporate credit rating on LMI and the B+ issue-level rating on the company's $350 million secured first-lien credit facility (composed of a $125 million revolver and a $225 million term loan), which has a recovery rating of 3 that indicates meaningful recovery (50%-70%) in a payment default scenario.

"The rating on LMI reflects our expectations that the company's credit ratios will remain weak over the next 12 months due to decreased demand across its business segments," S&P credit analyst Tatiana Kleiman said in a news release.

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