S&P ups Atlantic Marine outlook to positive

Standard & Poor's said it has revised the outlook on Atlantic Marine Holding Co. to positive from stable and affirmed the ratings, including the B+ corporate credit rating.

At the same time, the agency said it also affirmed its BB- bank loan rating on the company's $230 million secured credit facility, which is being amended to permit certain proposed acquisitions.

The 2 recovery rating on the facility is unchanged, S&P said.

"The outlook revision reflects expectations of improving credit protection measures in 2009 resulting from the proposed acquisitions, as well as higher revenues and earnings at the existing operations," said S&P credit analyst Christopher DeNicolo.

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