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S&P lifts Wendel to positive
Standard & Poor's said it revised to positive from stable the outlook on Wendel Investissement.
The agency also said it affirmed the BB- long-term and B short-term corporate credit ratings on the company.
The recovery rating is unchanged at 3, indicating 50% to 70% expected recovery in a default.
The agency's loan-to-value ratio for Wendel has been decreasing toward levels commensurate with a BB rating, S&P said.
The agency also said it expects the company to continue improving its financial risk profile.
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