S&P: Eco-Bat negative

Standard & Poor's said it revised the outlook on Eco-Bat Technologies Ltd to negative.

At the same time, the agency said it affirmed its B+ long-term corporate credit rating on Eco-Bat.

In addition, the agency affirmed its B+ issue rating on the company's senior unsecured notes due 2017. The recovery rating on the senior unsecured notes is unchanged at 3.

The outlook revision reflects Eco-Bat's weak results in the second quarter of 2012 and S&P's forecast that the company's fundamentals will deteriorate further in the coming quarters.

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