S&P lifts Baker & Taylor

Standard & Poor's said it raised its corporate credit rating on Baker & Taylor Acquisition Corp. to B from B-.

The outlook is stable.

At the same time, the agency said it raised its senior secured debt rating to CCC+ from CCC, while the recovery rating remains a 6.

"The upgrade on privately owned Baker & Taylor reflects its improving operating and financial performance over the past year, despite top-line pressures in both of its business segments because of the weak economic environment," said S&P credit analyst Jayne Ross.

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