S&P lifts GenCorp to positive

Standard & Poor's said it affirmed its B corporate credit rating on GenCorp Inc. and revised the outlook to positive from stable.

At the same time, the agency said it affirmed its CCC+ issue ratings on the company's convertible and senior subordinated notes. The agency said it also maintained the 6 recovery rating.

"The outlook revision reflects our expectation that lower debt and continued credit metric improvement could warrant an upgrade in the next year," said S&P credit analyst Chris Mooney in a news release.

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