S&P lifts Triumph to BB+

Standard & Poor's said it raised its corporate credit rating on Triumph Group Inc. to BB+ from BB.

The rating was removed from CreditWatch, where it was placed with positive implications on Nov. 26.

The outlook is stable.

The agency also revised its recovery rating on the company's unsecured debt to 6 from 5, which indicates an expectation of negligible (0%-10%) recovery in the event of payment default, and affirmed the BB- issue rating.

"The upgrade reflects our reassessment of Triumph's competitive position, which is a component of its business risk profile, and its cash flow adequacy and leverage, which determine its financial risk profile," S&P credit analyst Christopher Denicolo said in a news release.

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