S&P: Brown Jordan misses payment

Standard & Poor's said Tuesday that the ratings and outlook on furniture manufacturer Brown Jordan International Inc. (CC/negative/--) are unchanged following the company's failure to make the $6.7 million interest payment on its subordinated debt due Feb. 17.

S&P said that should the company fail to make the required payment within the 30-day grace period, the ratings will be lowered to D.

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