S&P drops Del Laboratories view to negative

Standard & Poor's said it revised its outlook on Del Laboratories Inc. to negative from positive.

At the same time, the agency said it affirmed the company's B corporate credit and senior secured bank loan ratings and its CCC+ senior subordinated debt ratings.

The revised outlook reflects the company's weaker-than-expected operating performance in the first quarter of 2005 and S&P's expectations that the company will be challenged to fully achieve its planned cost savings and improve earnings in a challenging and mature market, the agency added.

The ratings reflect Del's high leverage as a result of its acquisition by Keslo & Co. in January, S&P said.

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