S&P upgrades URS

Standard & Poor's said it raised the corporate credit rating on URS Corp. to BBB- from BB+ and withdrew the 2 recovery ratings on the company's credit facility.

The BBB- ratings on this debt are unchanged.

The outlook is stable.

The upgrade reflects the company's good operating performance through the current economic downturn, S&&P said.

Good free cash flow and debt reduction over time have boosted credit measures, which continues to support a higher rating, the agency said.

The ratings also consider the company's intermediate financial risk profile, marked by its history of growth through large, debt-financed acquisitions, S&P said.

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