S&P raises Talecris

Standard & Poor's said it raised its corporate credit rating on Talecris Biotherapeutics Inc. to BB from B+ and removed the rating from Creditwatch, where it was placed with positive implications on Sept. 21, following the announcement of the IPO.

The agency said it also assigned a BB senior unsecured debt rating and a 4 recovery rating to Talecris' proposed $550 million of senior unsecured notes due 2016.

The outlook is stable.

"The rating actions reflect the significant deleveraging of Talecris following its successful IPO and the company's much improved operating performance over the past year," said S&P credit analyst Arthur Wong.

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