S&P affirms OM Group

Standard & Poor's said it affirmed its B+ corporate credit and B- subordinated debt ratings on OM Group Inc. and removed the ratings from CreditWatch with developing implications, where they were placed in August 2004.

The outlook is stable.

S&P said the ratings affirmation and stable outlook recognize sharply reduced earnings, reflecting in part lower cobalt prices, offset by cash flow protection measures and liquidity still satisfactory for the ratings.

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