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S&P lifts L.V.I. Holding
Standard & Poor's said it raised to BB- from B+ its long-term corporate rating on L.V.I. Holding NV.
The rating was removed from CreditWatch where it had been placed with positive implications on May 3, the agency said.
The outlook is positive.
At the same time, S&P said it raised to BB- from B+ its rating on the €175 million senior secured notes issued by Carmeuse Lime BV and guaranteed by L.V.I. and assigned its recovery rating of 2 to the notes.
S&P added that the upgrade reflects the Carmeuse group's markedly improved cash flow ratios, enhanced financial flexibility and clearer, tighter financial policy.
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