S&P: AGY view stable

Standard & Poor's said it revised the outlook on AGY Holding Corp. to stable from negative and affirmed the B corporate credit rating.

S&P said the outlook revision reflects expectation for a stable operating environment for AGY and follows several quarters of steadily improving earnings.

Ratings reflect a vulnerable business position in a relatively narrow segment of the glass fiber market, with meaningful concentration of revenue and operating profits from a few customers and product applications and a highly leveraged financial profile, the agency said.

Partially offsetting these risk factors are the company's technological capabilities in some specialized product categories, a focus on increasing the contribution from value-added products and good market shares in the business niches in which AGY competes, the agency noted.

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