S&P affirms Sensus

Standard & Poor's said it affirmed its ratings on Sensus Metering Systems Inc., including its B+ corporate credit rating.

The ratings are removed from CreditWatch, where they were placed with negative implications on April 9, due to concerns regarding limited headroom on the company's financial covenants, S&P said.

The outlook is negative.

The agency said that the rating actions incorporate the recent improvement in Sensus' liquidity profile, including somewhat better headroom under its financial covenants.

S&P noted that the ratings on Sensus reflect the company's weak business risk profile and highly leveraged financial risk profile.

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