S&P: Sealy outlook negative

Standard and Poor's said it revised the outlook on Sealy Corp. to negative from stable and affirmed its BB- corporate credit rating.

According to S&P, the outlook revision is based on weakening credit measures below expectations, with the slowing housing market and consumer spending environment.

For the 12 months ended Dec. 2, the issuer's total debt-to-EBITDA ratio rose to 4.3 times, compared with 3.6 times the prior year.

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