The ratings on North Carolina-based apparel manufacturer Renfro Corp. reflect Standard&Poor's Ratings Services' view that the company's financial profile continues to be "aggressive" and the business risk profile remains "vulnerable." The company's aggressive financial risk profile continues to be supported by its credit metrics, which are consistent with the aggressive financial indicative ratios, and a financial policy that makes debt-financed acquisitions. For the 12 months ended Oct. 29, 2011, adjusted leverage increased to 4.1x from 3.5x in the prior year, due mainly to higher debt levels related to the funding of an acquisition in December 2010. EBITDA interest coverage and funds from operations to total debt were 4.1x and 15.9%, respectively, compared with 5.1x and 24.3% in the
