S&P boosts FastenTech outlook to stable

Standard & Poor's said it revised its outlook on FastenTech Inc. to stable from negative.

All ratings, including the B+ corporate credit rating, have been affirmed, the agency said.

The outlook revision reflects FastenTech's somewhat less aggressive financial policy evidenced by good operating performance and improved credit protection measures, S&P added, noting that the ratings on FastenTech continue to reflect the company's relatively weak business risk profile, serving competitive and cyclical industrial markets, and its highly leveraged financial profile.

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