NEW YORK (Standard&Poor's) July 19, 2004--Standard&Poor's Ratings Services said today that it revised its outlook on office furniture manufacturer Herman Miller Inc. to stable from negative. At the same time, Standard&Poor's affirmed its 'BBB' corporate credit and 'BBB' senior unsecured debt ratings on the company. Total debt outstanding at May 29, 2004, was $205.7 million. "The outlook revision reflects rising order trends and an improved cost structure for this innovator in office furniture design," said Standard&Poor's credit analyst Martin Kounitz. "The ratings on Zeeland, Mich.-based Herman Miller Inc. reflect the company's strong position in the U.S. office furniture industry, its efficient manufacturing structure, and its moderate financial policy. These strengths are offset
