S&P lifts Blount

Standard & Poor's said it raised its corporate credit rating on Blount Inc. to BB- from B+.

At the same time, the agency said it raised our subordinated debt rating on the company to B from B-.

The rating on Blount's $4.9 million first-lien Canadian term B loan was raised to BB+ from BB, and its 1 recovery rating was affirmed, S&P said, adding that it raised the ratings on Blount's $100 million revolving credit facility and its $315 million term loan B to BB- from B+ and affirmed the 3 recovery ratings on those issues.

The outlook is stable.

S&P said the rating actions reflect both the improvement to date in Blount's credit profile, good organic growth, expected solid free cash flow generation and the company's somewhat less aggressive financial strategy.

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