S&P lowers Keystone view to negative

S&P said it revised the outlook on Keystone Acquisition Corp. to negative from stable and affirmed its B rating.

The company's operating performance was below expectations, resulting in pro forma coverage about 1.6x and leverage of about 6.6x for year-end 2018, S&P said.

The negative outlook reflects slightly weaker earnings momentum that has led to lower interest coverage and higher leverage for the company, the agency said.

The outlook revision reflects Keystone's underperformance versus projections for 2018 and the pressure on the company's coverage and leverage ratios, S&P said.

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