S&P: Brightstar view stable

Standard & Poor's said it revised its outlook on Brightstar Corp. to stable from negative and affirmed the BB- corporate credit rating on the company.

S&P also affirmed its BB- issue-level rating with a recovery rating of 4, indicating an expectation for average (30%-50%) recovery for lenders in the event of a payment default.

The outlook revision reflects the company's significant progress in resolving its internal control issues, as well as the recent improvement in its operations and financial profile, the agency said.

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