S&P ups Unova ratings

Standard & Poor's said it raised its corporate credit rating on Unova Inc. to B+ from B-. At the same time, the rating on the company's senior unsecured notes was raised to B+ from CCC+.

The outlook is stable.

S&P said the upgrade reflects a material improvement in Unova's operating results, cash flow protection measures, and financial flexibility.

S&P noted the ratings on Unova Inc. reflect the company's somewhat below-average financial profile and well-below-average business profile. Both of Unova's business segments are cyclical and are exposed to intensely competitive markets. Whereas the market for ADS is expected to grow at an annual rate in excess of GDP, the IAS market is mature.

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