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S&P ups Hanesbrands
Standard & Poor's said it raised its corporate credit rating on Hanesbrands Inc. to BB- from B+.
At the same time, the agency said it raised the bank loan and unsecured debt ratings, while leaving existing recovery ratings on the company unchanged.
S&P noted that the rating upgrade reflects the company's positive operating momentum as a stand-alone entity since its spin-off from Sara Lee Corp. in September 2006, and its modestly improving credit protection measures.
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