S&P upgrades Rent-A-Center

S&P said it raised the issuer credit rating on Rent-A-Center Inc.'s to B from B- and revised the outlook to positive.

The agency also said it raised the ratings on the company's senior unsecured notes to B.

The recovery rating remains at 3.

Rent-A-Center's performance continues to improve, S&P said, and the agency said it expects margin expansion to result in modest further de-leveraging.

The positive outlook reflects an expectation that good performance and cash flow generation will continue, as well as a successful refinancing of the capital structure, the agency said.

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