S&P: Aearo cut to negative

Standard & Poor's said it revised its outlook on Aearo Corp. to negative from stable.

All ratings, including the B+ corporate credit rating and secured debt rating and B- subordinated debt rating, were affirmed.

S&P said this action follows Aearo's announcement that it distributed a cash dividend of $35 million to redeem preferred shares and pay accrued dividends.

Debt capacity will be very limited, according to S&P, restricting Aearo's ability to make debt-financed acquisitions.

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