S&P: Pilot Travel view negative

Standard & Poor's said it revised the outlook on Pilot Travel Centers LLC to negative from stable.

The ratings on the company, including the BB corporate credit rating, were affirmed.

At the same time, S&P affirmed its BB senior secured issue-level rating on the company's revolving credit facility and term debt. The recovery rating on the secured debt remains 3.

"The outlook revision to negative incorporates the uncertainty and possible eventual negative outcomes around the U.S. government investigation of withholding fuel rebates from some customers," S&P credit analyst Nalini Saxena said in a news release.

"We believe the investigation could take some time to reach a resolution. We are monitoring developments; at this time, we view the company's liquidity and customer relations as consistent with the current rating."

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