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S&P lifts American Residential view to stable
Standard & Poor's said it affirmed the B corporate credit rating on American Residential Services LLC.
The outlook was revised to stable from negative.
S&P also said it affirmed the rating on the company's $165 million senior secured second-lien notes due 2015 at B. The recovery rating is 4, indicating 30% to 50% expected recovery in a default.
The company should be able to modestly increase profitability and improve credit measures over the next year, the agency said.
The ratings reflect the company's highly leveraged financial risk profile, S&P said, and an aggressive financial policy that overshadows the company's generally consistent operating performance.
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