S&P: Standard Parking on positive watch

Standard & Poor's said it placed its B corporate credit, B+ senior secured bank loan rating, B- senior unsecured rating, and CCC+ subordinated debt rating on Standard Parking Corp. on CreditWatch with positive implications after the company filed to go public.

The CreditWatch placement follows Standard Parking's recent S-1 filing with the Securities and Exchange Commission for an initial public offering of new Class A common stock. S&P said it expects some of the proceeds from the offering to be used for debt reduction, which could improve credit protection measures.

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