S&P changes Seacor view to negative

Standard & Poor's said it revised the rating outlook on Seacor Holdings Inc. to negative from stable and affirmed the BB- corporate credit rating.

The agency also affirmed the issue-level rating on the company's senior unsecured debt at BB-. The recovery rating is unchanged at 3, indicating an expectation of meaningful recovery (50% to 70%; lower half of range) for creditors if a payment default occurs.

"The outlook revision primarily reflects our expectation of weaker leverage measures than previously anticipated due to revised operating assumptions and the recently announced term loan debt under the company's joint venture, SEA-Vista I LLC," S&P credit analyst John Rogers said in a news release.

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