S&P: Corel off watch

Standard & Poor's said it removed all the ratings on Corel Corp. from Creditwatch where they had been placed with negative implications on Oct. 30.

At the same time, the agency said it affirmed its B- long-term corporate credit rating on the company.

The outlook is stable.

S&P said it also affirmed its B- issue-level rating on Corel's $235 million senior secured bank facilities, of which about $105 million was outstanding on Nov. 30, with a 3 recovery rating.

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