S&P boosts Foamex

Standard & Poor's said it raised its corporate credit rating on Foamex LP to B from D, following the company's emergence from bankruptcy on Feb. 12.

The agency said it affirmed all other ratings.

The outlook is stable.

According to S&P, the ratings reflect the company's exposure to volatility in raw material prices and economic cycles, customer concentration, pricing and volumes vulnerable to weak automotive fundamentals in North America and a highly leveraged capital structure.

The rating also reflects the company's leading market share and manageable debt maturity schedule, S&P noted.

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