S&P: GATE view now stable

Standard & Poor's said it revised its outlook on Global A&T Electronics Ltd. (GATE) to stable from positive and affirmed the B long-term corporate credit rating and axBB- long-term Asean regional scale rating on the company.

S&P also affirmed the B issue rating on GATE's $625 million notes due 2019.

"We revised the outlook to stable from positive because GATE's operating and financial performances are likely to remain weaker than we had earlier anticipated," said S&P credit analyst Katsuyuki Nakai in a news release. "Nevertheless, we expect GATE to maintain positive free operating cash flows over the next 12 months, with a ratio of debt to EBITDA of less than 5x."

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