On Nov. 23, 2004, Standard&Poor's Ratings Services affirmed its 'B' corporate credit and senior secured bank loan ratings on cookware and bake ware manufacturer WKI Holding Co. Inc. All ratings have been removed from CreditWatch, where they were placed on May 6, 2004. At the same time, Standard&Poor's withdrew its 'CCC+' subordinated debt rating on the company's 12% senior subordinated notes due 2010, all but $9 million of which has been repaid. The outlook is negative. Reston, Va.-based WKI had about $140 million of total debt outstanding at June 27, 2004. Despite a substantial reduction in debt following the company's sale of subsidiary, OXO International, in June, ratings are affirmed. WKI's remaining product lines are less
