S&P rates Renfro, loan B

Standard & Poor's said it assigned its B corporate credit rating to Renfro

Corp.

The outlook is stable.

At the same time, S&P said it assigned its loan and recovery ratings to Renfro's proposed $145 million senior secured term loan B, noting that the loan was rated B with a recovery rating of 4.

S&P added that the rating on Renfro reflects the company's participation in the highly competitive apparel manufacturing industry, its narrow product portfolio, customer concentration and highly leveraged financial profile.

These factors are somewhat mitigated by the well-known Fruit of the Loom brand, the agency said.

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