S&P: Simmons on positive watch

Standard & Poor's said the ratings on Simmons Co., including its B+ corporate credit and bank loan ratings and its B- subordinated debt rating, remain on CreditWatch with positive implications.

This follows Simmons' announcement that it is delaying its proposed initial public offering of common stock because of current market conditions.

Should the initial public offering be delayed beyond the 90-to-120 day filing period customary for such transactions, S&P said it may remove the company from CreditWatch and affirm the current ratings with a stable outlook.

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