S&P ups American Safety Razor

Standard & Poor's said it raised its corporate credit rating on razor and blades manufacturer American Safety Razor Co. to B from B- and removed the ratings from CreditWatch where they had been placed March 29.

The outlook is stable.

S&P said the upgrade reflects the company's improved operating performance during recent periods and the successful refinancing of its senior secured bank facility, which improved the firm's overall liquidity position.

"The ratings on Cedar Knolls, N.J.-based American Safety Razor Co. reflect the company's high debt leverage and small size in a sector dominated by companies with substantially greater financial resources," said S&P credit analyst Patrick Jeffrey. "These factors are partially offset by ASR's good market position as a private-label manufacturer and marketer of razors and blades, and its improved operating performance during the past 12 months."

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