S&P affirms Marsulex

Standard & Poor's said it affirmed its BB- corporate credit and B subordinated debt ratings on Marsulex Inc. following a review of the company's growth strategy and financial policies. The outlook is negative.

S&P said the ratings on Marsulex reflect the company's modest diversity and revenue base, its relatively high debt burden and its limited success in achieving profit growth.

These factors are partially offset by the company's stable revenue base and experienced management team, according to S&P.

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