S&P upgrades Igloo Holdings

Standard & Poor's said it raised its corporate credit rating on Igloo Holdings Corp. and operating subsidiary Interactive Data Corp. to B+ from B and removed all ratings from CreditWatch, where they were placed with positive implications on Nov. 26.

The outlook is stable.

At the same time, S&P raised the issue-level ratings on the company's debt by one notch, in conjunction with the upgrade. Recovery ratings on the company's debt issues remain unchanged.

S&P said it bases its upgrade primarily on its reassessment of the importance of Igloo's "satisfactory" business risk profile and the company's ability to generate stable discretionary cash flow and support its highly leveraged capital structure.

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