S&P: St. John view stable

Standard & Poor's said it revised the outlook on St. John Knits International Inc. to stable from negative and affirmed the B+ corporate credit rating and the BB bank loan and 1 recovery rating.

The outlook revision reflects St. John's improving operating performance and credit protection measures, the agency said.

Ratings reflect the company's leveraged financial profile, narrow focus on high-end women's knitwear apparel, and channel and customer concentration, S&P said.

Leverage improved to 4.8 times for the 12 months ended January, from 6.9 times a year ago.

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