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S&P lifts NBTY
Standard & Poor's said it raised its bank loan rating for NBTY Inc. to BB+ from BB and raised the recovery rating to 1 from 2.
At the same time, S&P said it revised its outlook to stable from negative and affirmed the BB corporate credit rating and all other ratings on NBTY.
The agency noted that the outlook revision reflects the company's improved financial profile and credit measures resulting from reduced debt levels.
The ratings on NBTY reflect its aggressive debt leverage, acquisition-oriented growth strategy and the risk of adverse publicity about vitamin products depressing its sales, S&P said, adding that these factors are somewhat mitigated by the company's strong position and diversified distribution channels in the vitamin, mineral and supplement industry.
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