S&P boosts Guitar Center

Standard & Poor's said it raised its corporate credit rating on Guitar Center Inc. to BB+ from BB.

The rating was removed from CreditWatch, where it was placed with positive implications on July 18, the agency said.

The outlook is stable.

S&P noted that the rating on Guitar Center Inc. reflects the company's participation in the highly fragmented music products retail market and its aggressive growth strategy, adding that these factors are partially mitigated by the company's favorable market position and good credit measures for the rating category.

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