S&P upgrades American Pacific, notes to B

Standard & Poor's said it raised its corporate credit rating on American Pacific Corp. to B from B-. The outlook is stable.

At the same time, the agency said it raised its issue-level rating on the company's $110 million senior unsecured notes due 2015 to B from B-. The recovery rating remains 4, indicating an expectation for average recovery in the event of a payment default.

"The ratings upgrade on American Pacific reflects our expectation that the recent improvement in the company's operating performance and credit metrics will be sustained," said S&P credit analyst Danny Krauss in a news release.

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