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S&P upgrades Revlon
Standard & Poor's said it raised its corporate credit rating on Revlon Consumer Products Corp. to B from B-.
S&P said it also raised the issue ratings on Revlon's $840 million senior secured term loan due 2012 to B+ from B and its 9½% senior unsecured notes to B- from CCC+. The recovery rating on the loan remains at 2. The recovery rating on the notes remains at 5.
The outlook is positive.
The upgrade reflects the company's improved operating performance, credit measures and liquidity profile, S&P said.
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