S&P: Brightstar view negative

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

In addition, S&P affirmed its BB- issue-level rating on the company's senior unsecured notes. The recovery rating on this debt remains unchanged at 4.

The outlook revision is based on the increased debt as a result of additional working capital requirements to support Brightstar's business growth, the agency said. However, it also expects that currently elevated leverage will decline to the mid-4 times area by year-end 2013.

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