S&P raises CCM

Standard & Poor's said it raised its corporate credit rating on CCM Merger Inc. to B from B-.

The agency said it removed the rating from Creditwatch, where it was placed with positive implications July 23.

The outlook is stable.

The agency noted that it also raised all issue-level ratings on the company's debt by one notch, in conjunction with the corporate credit rating upgrade. The recovery ratings on this debt remain unchanged.

"The B corporate credit rating reflects a reassessment of its previous expectations for the company's operating performance," said credit analyst Michael Listner.

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