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S&P revises CPG International view to positive
S&P said it revised its outlook on CPG International LLC (doing business as the Azek Co.) to positive from stable.
At the same time, the agency affirmed its B+ issuer credit rating on the company and the BB- issue-level rating on the company's senior secured term loan.
“Our positive outlook on CPG indicates the potential for a higher rating over the next 12 months, based on our belief that strong repair and remodeling demand and increased scale will help the company sustain the improvement in credit measures,” S&P said in a news release.
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