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S&P lifts Great Lakes Dredge & Dock
S&P said it raised its issuer credit rating on Great Lakes Dredge & Dock Corp. to B from B- on improved leverage.
The outlook is stable.
The agency said it also raised its issue-level rating on the company's senior unsecured notes to B from B-.
The company recently refinanced its asset-based loan facility and extended its maturity to May 2024 from December 2019. In addition, the company's improved operating performance over the past year and lower debt leverage were behind its view, S&P said in a news release.
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