S&P lifts Grande Communications

Standard & Poor's said it raised the ratings on Grande Communications Holdings Inc., including its corporate credit rating and senior secured notes, to B- from CCC+.

The ratings were simultaneously removed from CreditWatch, where they had been placed with positive implications on April 17, S&P noted.

The outlook is stable.

In addition, the agency said it assigned the $168 million senior secured notes a 4 recovery rating, adding that the upgrade reflects its more favorable view of prospects for the business plan of Grande.

Nevertheless, the company's business risk profile remains vulnerable, S&P noted.

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