S&P: Guitar Center on watch positive

Standard & Poor's said it placed its ratings for Guitar Center Inc., including the BB- corporate credit rating and B+ senior unsecured debt rating, on CreditWatch positive.

S&P said the CreditWatch placement is based on the company's improved operating performance over the past several quarters.

This is supported by growth at Guitar Center retail stores and Musician's Friend direct sales, which has strengthened credit measures, according to S&P.

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