S&P revises Abitibi-Consolidated to 6

Standard & Poor's said it revised the recovery ratings on Abitibi-Consolidated Inc. (D/) and Abitibi-Consolidated Co. of Canada's senior unsecured debt to 6 from 5.

The long-term corporate credit rating and senior secured and unsecured debt are unchanged at D.

"We believe reorganization and emergence, or a sale of the company as a going concern, is the more likely outcome for the Abitibi entities, and so our recovery ratings reflect our valuation of the group on a going-concern basis," S&P analyst Jatinder Mall said in a statement.

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