S&P: Wellman up to stable

Standard & Poor's said it revised its outlook on Wellman Inc. to stable from negative.

At the same time, S&P affirmed all ratings on the company, including its B+ corporate credit rating, BB- rated $175 million secured revolving credit facility, B+ $185 million secured first-lien term loan and B- $265 million secured second-lien term loan.

S&P said the outlook revision reflects the improvement in operating results over the past year, aided by the continued strong demand for polyethylene terephthalate products and a favorable supply-demand relationship following significant capacity additions in 2003.

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