NY -- Standard&Poor's CreditWire 7/17/97 -- Standard&Poor's today has raised its corporate credit and senior unsecured ratings on Pittston Co. to triple-'B' from triple-'B'-minus, and its preferred stock rating to triple-'B'-minus from double-'B'-plus. The ratings outlook is now stable. The upgrade reflects the ongoing strong operating performance of Pittston's major business groups, which has improved the company's financial profile steadily over the past several years. In addition, Standard&Poor's views the long-term liabilities associated with the company's U.S. coal operations, which require annual cash payments, as quantified and manageable within the cash generating capabilities of the coal business. The ratings reflect diversity of operations, the solid profitability of its Brink's security (armored car and home
