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S&P ups GeoEye, Orbimage
Standard & Poor's said it upgraded GeoEye Inc. and its wholly owned subsidiary Orbimage Inc.
The agency said it raised the corporate credit rating on the company to B from B-.
The outlook is stable.
In addition, the agency said it raised the issue-level rating on GeoEye's floating-rate senior secured notes due 2012 to BB-, two notches above the corporate credit rating on the company, from B-.
S& noted that it also revised the recovery rating on this issue to 1 from 4.
At the same time, the agency said it removed the ratings from Creditwatch, where they were placed with positive implications on Sept. 22, following the successful launch of GeoEye-1.
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