S&P: Armor outlook positive

Standard & Poor's said it revised its outlook on Armor Holdings Inc. to positive from stable and affirmed its ratings, including the BB corporate credit rating, on the security products supplier.

S&P said the outlook revision reflects Armor's improved financial flexibility from a proposed common stock offering and solid operating performance. The company intends to sell 4 million shares of common stock. The proceeds, before transaction fees, could total around $150 million at current prices and are likely to be used to fund acquisitions.

S&P noted the ratings on Armor reflect the company's modest size and active acquisition program, offset somewhat by leading positions in niche markets and moderate leverage.

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