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S&P lifts Workflow Management
Standard & Poor's said it raised its corporate credit rating on Workflow Management Inc. to CCC- from SD.
The outlook is negative.
The agency said it affirmed its issue-level rating on the company's first-lien debt at CCC while the recovery rating remains unchanged at 2.
At the same time, the agency said it raised the rating on Workflow's second-lien debt to C from D based on the amended terms of the second-lien credit agreement, and subsequently withdrew its rating on this issue at the request of the company.
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