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S&P ups Hunter Fan view to stable
Standard & Poor's said it revised the outlook on Hunter Fan Co. to stable from negative and affirmed its B- corporate credit rating.
The agency also said it affirmed its B issue-level rating on Hunter Fan's first-lien term loan due 2014. The recovery rating is 2, indicating 70% to 90% expected recovery in a default.
The agency also said it affirmed the CCC rating on the company's second-lien term loan due 2014. The recovery rating is 6, indicating 0 to 10% recovery in a default.
The ratings reflect a belief that Hunter Fan will continue to improve its operating performance and sustain its recently strengthened credit measures and liquidity, S&P said.
The company's operating environment has stabilized in recent months and sales and profitability will improve over the near term, the agency said.
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