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S&P ups Radio Systems notes
Standard & Poor's said it raised its corporate credit rating on Radio Systems Corp. to B from B-.
The outlook is stable.
At the same time, the agency raised its issue-level ratings on the company's $250 million senior secured second-lien notes due 2019 to B from B-. The recovery rating is unchanged at 4, which indicates an expectation of average (30% to 50%) recovery for debtholders in the event of payment default.
"The upgrade reflects RSC's improvement in operating performance and credit measures over the past year, in addition to our view of its improved liquidity," S&P credit analyst Stephanie Harter said in a news release.
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