Houston, Texas-based death-care services provider Carriage Services Inc. has improved operations over the past year. Liquidity benefits from an extension of the revolver for two years, now maturing in 2012 and an amendment that provides a higher borrowing capacity. We are revising the rating outlook to stable from negative, and affirming our 'B' corporate credit rating on the company. On March 9, 2010, Standard&Poor's Ratings Services revised its outlook on Carriage Services Inc. to stable from negative, recognizing the company's relatively stable operating performance, supported by growth in cemetery revenue and cost efficiencies. This is in contrast to our initial expectation of eroding operating performance because of the weak economy. In addition, the overall liquidity position was aided
