U.S.-based Renfro's credit measures have improved over the past year from good top-line growth and increased profitability. We are affirming our 'B' corporate credit rating on Renfro. We are also affirming the 'B' issue-level rating on their senior secured debt, and revising the recovery rating to '3' from '4'. We are revising the outlook to positive, reflecting our expectation that the company's operating performance will continue to improve, the company will reduce debt, and credit measures should further strengthen, including adjusted leverage of about 3x. NEW YORK (Standard&Poor's) Oct. 25, 2012--Standard&Poor's Ratings Services today affirmed its 'B' corporate credit rating on North Carolina-based Renfro Corp. and revised the rating outlook to positive from stable. In addition,
