S&P changes Brightstar view to negative

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

"The outlook revision reflects Brightstar's currently elevated leverage resulting from its business transition and various one-time charges that we don't adjust for, combined with higher-than-expected working capital-related borrowing," S&P Katarzyna Nolan said in a news release.

"It also reflects some uncertainty regarding whether its newly generated business will result in the meaningful improvement of its credit profile over the next year that we anticipate in our base-case scenario."

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