S&P: WKI off watch

Standard & Poor's said it affirmed its B corporate credit and senior secured bank loan ratings on WKI Holding Co. Inc. All ratings have been removed from CreditWatch, where they were placed on May 6. The outlook is negative.

Despite a substantial reduction in debt following the company's sale of subsidiary OXO International in June, ratings are affirmed.

S&P said the ratings on WKI reflect its participation in the highly competitive housewares industry, customer concentration risk, seasonality and leveraged financial profile.

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