S&P: Inco positive

Standard & Poor's said it revised its outlook on Inco Ltd. to positive from stable and affirmed all the ratings on the company.

"The outlook revision is based on the expectation that ratings could be raised, provided Inco maintains its moderate financial profile while completing its Voisey's Bay [Newfoundland] and Goro [New Caledonia] projects," said S&P credit analyst Donald Marleau.

S&P said the positive outlook could be impaired by a significant increase in capital expenditures, a material weakening in commodity prices or operating problems, among other things that could lead to a larger total debt burden.

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