S&P cuts Polymer Group outlook to negative

Standard & Poor's said it revised its outlook on Polymer Group Inc. to negative from stable.

All ratings, including the BB- corporate credit rating, were affirmed.

The agency said that the outlook revision follows several quarters of weaker-than-expected performance and somewhat higher-than-expected debt primarily due to raw material cost escalation and some product mix shifts.

The ratings on Polymer reflect the company's weak business position as a producer of nonwoven and oriented polyolefin products and its aggressive financial profile, S&P added.

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