S&P affirms Katun, view down to stable

Standard & Poor's said it affirmed its B+ corporate credit rating on Katun Corp. and revised the outlook to stable from positive.

The agency said the outlook revision reflects weakness in revenues and earnings in 2005 and S&P's expectation that Katun's financial profile will not materially improve in the near to intermediate term.

The ratings on Katun reflect the company's relatively modest revenue and earnings base, increasingly competitive market conditions and lack of revenue growth, the agency said, noting these factors are partly offset by the company's good position as a niche office equipment parts distributor and a moderately leveraged financial profile.

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