NEW YORK (Standard & Poor's) May 17, 2005--Standard & Poor's Ratings Services said today that it placed its ratings for Polymer Group Inc. on CreditWatch with developing implications following the announcement that the company has retained J.P. Morgan Securities Inc. as its financial advisor to explore strategic alternatives to maximize shareholder value, including the potential sale of the company. Developing implications mean that the 'B+' corporate credit rating and other ratings may be raised, lowered or affirmed. "Although the completion and timing of a transaction remain uncertain, and the identity of a potential buyer has not been revealed, interested parties could include a larger strategic buyer in a related product category or a financial buyer," said Standard & Poor's credit...
Companies mentioned in this report are: Polymer Group Inc.
Action: On CreditWatch:Developing
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