S&P boosts Knoll

Standard & Poor's said it raised its ratings on Knoll Inc., including its corporate credit rating and senior secured bank loan ratings to BB from BB-.

The outlook is revised to stable from positive.

S&P said that the upgrade reflects the company's continued improvements in operating performance and strengthening of credit protection measures.

The ratings on Knoll reflect its narrow business focus, the competitive and volatile nature of the office furniture industry and its leveraged financial profile, the agency noted, adding that these factors are somewhat mitigated by Knoll's defendable industry position given its large installed base and by the company's variable cost structure and strong reputation for design.

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