On Sept. 11, 2006, Standard&Poor's Ratings Services assigned its 'B' corporate credit rating to Mount Airy, N.C.-based sock manufacturer Renfro Corporation. The rating outlook is stable. At the same time, Standard&Poor's assigned its loan and recovery ratings to Renfro's proposed $145 million senior secured term loan B ($110 million funded at close). The loan was rated 'B' (at the same level as the corporate credit rating on the company) with a recovery rating of '4', indicating the expectation for marginal (25%-50%) recovery of principal in the event of a payment default. The ratings are based on preliminary offering statements and are subject to review upon final documentation. Proceeds from the proposed bank loan, along with some
