S&P: American Safety Razor on watch

Standard & Poor's said it placed its B corporate credit rating and other ratings on American Safety Razor Co. on CreditWatch with negative implications.

The CreditWatch placement reflects S&P's concerns that although American Safety Razor's operating performance has improved from the prior year, it may not be sufficient to meet the fourth quarter 2009 step down to 4.35x from 4.9x under the maximum leverage covenant in its credit agreement.

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