S&P: Tegrant remains on positive watch

Standard & Poor's said Tegrant Corp.'s CCC corporate credit rating remains on CreditWatch with positive implications.

The ratings were placed on CreditWatch in December 2010, reflecting the company's improved earnings generation following significant restructuring actions through the recession, S&P said.

The positive watch indicates the potential for an upgrade, subject to a review of Tegrant's acquisition of Createc and the impact on the business risk profile of the combined entity, the agency said.

Before resolving the CreditWatch, the agency said it also will review audited financial statements, earnings prospects, liquidity, operating strategy and financial policies of the combined entity.

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