S&P lifts Drummond to stable

S&P said it affirmed the BB corporate credit rating on Drummond Co. Inc.

The agency also said it revised the outlook to stable from negative.

The stable outlook reflects an expectation that Drummond's adjusted debt-to-EBITDA will remain between 2x and 2.5x in the next 12 months due to improved prices and volumes, S&P said.

The agency said it expects the company to maintain adequate liquidity and be able to refinance its revolving credit facility before May 2017.

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