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S&P: Smart Technologies view to stable
Standard & Poor's said it revised its outlook on Smart Technologies Inc. to stable from positive.
At the same time, the agency affirmed its B long-term corporate credit rating on the company and its BB- issue-level rating on the $125 million senior secured term loan. The 1 recovery rating on the term loan is unchanged.
"We base the outlook revision on our expectation that Smart's earnings will meaningfully weaken in the near term due to challenging market conditions in the company's core education segment, a slower-than-expected ramp-up of its enterprise business, and accelerated investment spending on growth initiatives," S&P credit analyst David Fisher said in a news release.
The agency expects depressed earnings will lead to materially weaker near-term credit metrics.
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