S&P ups General Cable view to stable

Standard & Poor's said it revised it outlook on General Cable Corp. to stable from negative and affirmed the B+ corporate credit rating, BB secured bank loan rating and B senior unsecured debt rating.

S&P said the revised outlook reflects improved financial leverage metrics stemming from strengthened profitability. As a result, General Cable's financial leverage metrics, as measured on an adjusted total debt to EBITDA basis, are now more consistent with its overall rating, adding to the company's financial flexibility.

The ratings on General Cable reflect a cyclical operating profile and still somewhat high levels of financial leverage. These factors partly are offset by the company's leading market positions and diversity in markets served, the agency said.

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