S&P raises ABB/Con-Cise loan to B+

Standard & Poor's said it affirmed its B corporate credit rating on ABB/Con-Cise Optical Group LLC.

The outlook is stable.

The agency also raised its issue-level rating on the company's $345 million senior secured bank credit facility to B+ from B and revised the recovery rating to 2 (70% to 90%) from 3. Recovery expectations are at the lower half of the 70% to 90% range.

"The higher bank facility ratings reflect improved recovery prospects for lenders mainly based on our higher emergence enterprise value estimate following the successful integration of Optical Distributor Group," S&P credit analyst Jerry Phelan said in a news release.

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