S&P ups Deluxe outlook to stable

Standard & Poor's said it revised its rating outlook on Deluxe Corp. to stable from negative.

Ratings on the company, including the BB- corporate credit rating, were affirmed, the agency said, noting that the outlook revision reflects stabilizing operating trends within Deluxe's small business service and check printing segments and adequate flexibility in the company's financial profile to sustain credit measures in line with the current rating over the intermediate term.

The BB- rating reflects intermediate- and long-term operating challenges to the company's business segments, resulting primarily from competitive conditions in Deluxe's check printing segment, which is expected to include continued declines in industrywide demand and pricing, the agency noted.

This is somewhat tempered by the company's financial profile, which incorporates a level of flexibility that will likely enable credit measures to remain in line with the current rating, notwithstanding operating challenges, S&P said.

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