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Research Update: Polypore International Inc. Upgraded To 'B+' On Improved Operating Performance; Outlook Stable Aug 11 Product Image

Research Update: Polypore International Inc. Upgraded To 'B+' On Improved Operating Performance; Outlook Stable Aug 11

  • Published: August 2011
  • Standard & Poors

Abstract
Charlotte, N.C.-based Polypore International Inc. continues to show improvement in its operating performance and credit metrics, with support from growing end markets and modest debt reductions. We are raising the corporate credit rating on Polypore to 'B+' from 'B'. At the same time, we are raising our ratings on the company's senior secured credit facility to 'BB' with a recovery rating of '1'. We are also raising the issue-level ratings on the company's $365 million senior unsecured notes to 'B' with a recovery rating of '5'. The outlook is stable, reflecting our expectation that despite significant capital spending and likely negative free cash flow this year, metrics will remain consistent with our rating level. On Aug. 24, 2011, Standard &...

Companies mentioned in this report are:
- Polypore International Inc.

Action: Outlook: Stable
Action: Upgraded

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and READ MORE >

- Polypore International Inc.

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