S&P puts Lennox on positive watch

Standard & Poor's said it placed its ratings, including the BB+ corporate credit rating, on Lennox International Inc. on CreditWatch with positive implications.

The CreditWatch placement is based on Lennox's maintenance of strong credit measures and a prudent financial policy over the past several quarters despite challenging operating conditions due to the steep decline in residential and commercial construction and repair activity and the global recession, the agency said.

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