S&P cuts Aquilex view to negative

Standard & Poor's said it revised its outlook on Aquilex Holdings LLC to negative from stable. At the same time, S&P affirmed all its ratings on Aquilex, including the B corporate credit rating.

The agency said that the outlook revision follows weaker-than-expected earnings, uncertain operating prospects and concerns around liquidity and covenant cushions. Aquilex's weakened profitability is due to projects delays, weak conditions in the petrochemical sector and price competition, S&P said.

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