S&P boosts Alliant Techsystems

Standard & Poor's said it raised its ratings, including the corporate credit rating to BB from BB-, on Alliant Techsystems Inc.

The outlook is stable.

S&P said the upgrade reflects an improved financial profile stemming from solid demand and a balanced deployment of excess cash flows. In the first nine months of fiscal 2006 revenues increased 15% as a result of growth in most segments, especially ammunition and the contributions from acquisitions.

The ratings on Alliant Techsystems reflect a somewhat aggressively leveraged balance sheet and active acquisition program, but benefit from leading market positions, satisfactory profitability and a generally favorable environment for defense spending, the agency said.

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