S&P ups Columbus McKinnon outlook to positive

Standard & Poor's said it revised its outlook on Columbus McKinnon Corp. to positive from stable.

At the same time, S&P said it raised its rating on the company's 10% senior secured notes maturing in 2010 to BB- from B and assigned a recovery rating of 1 to these notes.

In addition, S&P said it affirmed its B+ corporate credit and B- senior subordinated ratings on the company.

The agency added that the outlook revision to positive reflects continued improvement in credit measures and the expectation that the company will pursue a less aggressive financial policy, noting that the ratings on Columbus McKinnon continue to reflect the company's overall weak business risk profile and a leveraged financial profile.

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