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S&P ups Grohe to positive
Standard & Poor's said it revised the outlook on Grohe Holding GmbH to positive from stable and affirmed the B- long-term corporate credit rating.
The outlook revision reflects the view that Grohe's credit metrics should improve over 2011 toward levels commensurate with a higher rating, S&P said. The adjusted debt-to-EBITDA ratio could reach 6 times by year-end 2011.
The outlook revision also reflects recent efforts by the group to bolster liquidity, the agency said.
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