S&P: Kratos view now stable

Standard & Poor's said it revised its outlook on Kratos Defense & Security Solutions Inc. to stable from positive and affirmed all other ratings, including the B corporate credit rating.

"The outlook revision reflects our expectation that credit metrics will not approach levels that we believe could warrant an upgrade in the next 12 months, including debt to EBITDA below 4.5x," said S&P credit analyst Chris Mooney in a news release.

S&P said it expects the company's debt to EBITDA to remain about 6x (5x-5.5x net of cash in excess of $10 million) over the next year, compared with prior expectations of about 5x in 2013.

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