NEW YORK-Standard & Poor’s Corp. announced it upgraded its outlook on SkyTel Communications Inc. from negative to stable, citing the company’s improved cash flow and advanced messaging unit growth reported in its second-quarter earnings.
Although it expects SkyTel’s finances to improve, Standard & Poor’s said it believes the improvement will not be enough to warrant a further upgrade in the near term.
In addition, Standard & Poor’s maintained a B- rating on SkyTel’s senior unsecured debt, a CCC+ rating on its preferred stock, a B corporate credit rating and a B rating on the company’s $250 million secured bank loan facility.
