S&P: Reichhold outlook stable

Standard & Poor's said it revised the outlook on Reichhold Industries Inc. to stable from negative and affirmed its B- corporate credit rating and the CCC+ issue-level rating on its senior unsecured debt. The recovery rating on the debt remains 5.

The agency said the outlook revision reflects Reichhold's improved financial performance during the past several quarters. The company mitigated reduced volumes and lower selling prices through cost-reduction efforts and benefited from favorable raw material costs.

S&P expects operating trends to stabilize in 2010 supported by a rebound in volumes within Reichhold's composites segment, improving economic conditions and the benefits of cost reductions.

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