Fitch affirms Rubbermaid

Fitch Ratings said it affirmed Rubbermaid Inc.'s issuer default, bank credit facility and senior unsecured notes ratings at BBB, and short-term issuer default rating at F2. The trust convertible preferred stock was affirmed at BBB-.

The outlook was revised to stable from positive.

The affirmation reflects Rubbermaid's satisfactory credit metrics following its most recent acquisitions, a diverse line of brand names and reduction of manufacturing overhead and labor costs, according to the agency.

The outlook revision considers an increase in leverage as a result of two acquisitions completed on April 1 and forecast lower earnings and cash flow, Fitch said.

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