S&P ups Directed Electronics

Standard & Poor's said it raised its corporate credit rating on Directed Electronics Inc. (DEI) to BB- from B+ and removed the ratings from CreditWatch with positive implications.

At the same time, the agency said it raised its rating on DEI's senior secured credit facility to BB- from B+ while the 3 recovery rating assigned to the senior secured facility was affirmed.

The outlook is stable.

S&P noted the upgrades reflect DEI's more conservative financial policy, including a stronger balance sheet and greater financial flexibility following its December initial public offering, which was followed by debt reduction.

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