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Moody's affirms Thermadyne, ups outlook to stable
Moody's Investors Service said it affirmed the Caa1 corporate family rating of Thermadyne Holdings Corp. and the Caa2 rating of the $175 million senior subordinated notes due in 2014.
The outlook was changed to stable from negative.
The rating action reflects the company's success in restoring adequate financial controls, as well as the current trend of operating improvement since the second quarter of 2006, the agency said.
Moody's said it notes that the company managed to file its 10-K for the year ended 2006 and its 10-Q for the first quarter of 2007 on time and resolved the material weaknesses of internal control previously identified.
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