S&P: Oxbow Carbon view positive

Standard & Poor's said it revised the outlook on Oxbow Carbon LLC to positive from stable and affirmed its BB- corporate credit rating.

The agency said it raised Oxbow's senior secured term loan due 2014 to BB+ from BB and revised the recovery rating to 1 from 2.

"The outlook revision reflects the combination of the company's steady debt reduction and better-than-expected operating performance in the first quarter, a trend that may continue in the near term given the strong performance from the company's U.S. coal mining business," S&P analyst Sherwin Brandford said in a statement.

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