--Wan Hai's profitability has shown signs of recovery over the past few quarters. --We expect low capital expenditures and improving cash flow to lower Wan Hai's debt and improve its leverage over the next three to four quarters. --We revised the outlook on the long-term corporate credit rating to stable from negative. --We affirmed the 'BB+' long-term corporate credit rating and the 'BB' issue rating on the unsecured corporate bonds issued by the company's Singapore-based subsidiary. TAIPEI (Standard&Poor's) June 1, 2010--Standard&Poor's Ratings Services said today that it had revised its outlook on the 'BB+' long-term corporate credit rating on Taiwan-based Wan Hai Lines Ltd. to stable from negative and affirmed the rating. At the same time,
