S&P downgrades Empire Today

Standard & Poor's said it lowered the corporate credit rating on Empire Today LLC to B- from B, along with the rating on its $150 million senior secured notes due 2017 to B- from B.

The recovery rating remains 4, indicating 30% to 50% expected recovery in a default.

The outlook is stable.

The ratings reflect an expectation for credit measures to remain weaker than the B category medians for the foreseeable future, S&P said.

The agency said it considers the company's business risk profile as vulnerable based on its reliance on discretionary consumer spending for major home improvement projects and its need for effective TV advertising to generate customer leads.

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