S&P affirms Fenwal

Standard & Poor's said it affirmed Fenwal Inc.'s B corporate credit rating and removed it from CreditWatch, where its had been placed on Feb. 6.

The outlook is negative.

The affirmation reflects the June 2 ruling regarding litigation brought against Fenwal Inc. by Haemonetics Corp. alleging patent infringement, according to the agency.

The low speculative-grade ratings on Fenwal reflect the risks tied to its narrow business, tight liquidity and thin credit protection, S&P noted.

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