S&P cuts Stewart & Stevenson outlook to negative

Standard & Poor's said it revised the outlook on Stewart & Stevenson LLC to negative from stable and affirmed the ratings, including the B corporate credit rating, on the company.

"The outlook revision reflects softness in the company's core markets, which could continue to pressure credit metrics in the near term," said S&P credit analyst Kenneth Cox. Leverage has increased in recent quarters, and annualized debt to EBITDA for the second quarter of 2009 was above 6x.

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