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S&P: MasTec view to positive
Standard & Poor's said it affirmed the BB- corporate credit rating on MasTec Inc.
The agency also said it revised the outlook to positive from stable.
The outlook revision reflects the potential for an upgrade if MasTec continues to perform better than expectations for the BB- corporate credit rating, S&P said.
The agency said it expects the company's revenues to continue growing through 2011 because of acquisitions and strength in some end markets, including wireless and natural gas.
The ratings consider the company's significant financial risk profile and its weak business risk profile, characterized by exposure to the cyclicality of the company's primary end markets and significant customer concentration, S&P said.
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