S&P: Cornell on positive watch

Standard & Poor's said it placed its ratings on Cornell Cos. Inc., including the company's B- corporate credit rating, on CreditWatch with positive implications.

The agency said that the CreditWatch placement reflects Cornell's sustained improvement in operating performance and stronger financial risk profile.

Since the company's restructuring in 2005, Cornell has improved operating efficiency and discontinued less profitable programs, S&P said, noting that the company has also enhanced its profitability through strong performance in its adult secure segment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.