MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services revised its
outlook on office products maker ACCO Brands Corp to stable from negative,
saying ACCO's operating margins have improved and leverage has reduced to levels
closer to the agency's expectation after the
2005 merger with General Binding Corp.
S&P also raised the rating on the company's 350 mln usd subordinated notes
to 'B+' and assigned them a recovery rating of '5', indicating expectations of a
modest 10-30 pct recovery in the event of a payment default.
At the same time, the agency affirmed all of its ratings on the company,
including the 'BB-' corporate credit rating.
TFN.newsdesk@thomson.com
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