U.S.-based Renfro Corp. has steadily improved its financial risk profile and covenant cushion levels over the past year. We affirmed our 'B-' corporate credit rating on Renfro and our 'B-' issue-level rating on the senior secured credit facility. We revised the outlook to positive from negative reflecting the company's positive operating momentum and credit metrics that are stronger than required for the rating category. NEW YORK (Standard&Poor's) April 22, 2010--Standard&Poor's Ratings Services said today that it revised its outlook on Mount Airy, N.C.-based Renfro Corp. to positive from negative. At the same time, we affirmed the 'B-' corporate rating on the company. In addition, we affirmed the 'B-' issue-level rating on Renfro's senior secured credit facility.
