S&P takes Oreck off negative watch

Standard & Poor's said it affirmed its B+ corporate credit and senior secured bank loan ratings on Oreck Corp. and removed them from CreditWatch with negative implications, where they were placed on Sept. 1 following the aftermath of Hurricane Katrina.

The outlook is stable.

The CreditWatch listing reflected concerns about potential damage to the company's headquarters located in New Orleans and its primary manufacturing in Long Beach, Miss., and concerns pertaining to the length and magnitude of disruption of its business.

The ratings affirmation reflects S&P's belief that the hurricane did not significantly impact Oreck's business or financial risk profile.

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