Moody's affirms Harrington; outlook up to stable

Moody's Investors Service said it affirmed Harrington Holdings, Inc.'s B2 corporate family rating, and revised its ratings outlook to stable from negative.

The outlook revision reflects the company's favorable earnings growth that has resulted in a meaningful decline in leverage from the initial pro forma levels that followed its recapitization by Jordan Co., LP in early 2007, the agency noted.

The outlook revision also reflects the company's conservative posture with respect to acquisitions since the recapitalization and Moody's expectation that this will continue, although recognizing that acquisitions remain an ongoing risk.

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