S&P Switches Integra Telecoms Outlook to Negative
For the second time this week, Standard & Poor’s Ratings Services has downgraded a competitive service provider’s outlook.
On Wednesday, S&P analysts pushed Integra Telecom’s outlook to negative, although they affirmed its corporate ratings; they previously viewed the company’s outlook as positive.
S&P said Integra will have a tough time staying compliant with its covenant requirements, especially if business slows down because of the economy. Integra had $1.2 billion of total funded debt outstanding as of Sept. 20.
A day previously, S&P downgraded Level 3 Communications Inc..
