S&P ups Coach America outlook to positive

Standard & Poor's said it revised its outlook on Coach America Holdings Inc. to positive from stable.

At the same time, the agency said it affirmed its B- long-term corporate credit and B senior secured debt ratings, while leaving the recovery rating unchanged at 2.

S&P said it also affirmed the CCC second-lien credit facility rating and left the recovery rating unchanged at 6.

The agency said it revised its outlook to positive from stable because it expects that the company will continue to implement operational improvements and strengthen its financial profile, despite the effects of the prolonged U.S. recession.

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