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Article: Amax debt rating upgraded. (Duff & Phelps Inc.)
- Article from:
- PR Newswire
- Article date:
- December 7, 1988
CopyrightCOPYRIGHT 1988 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AMAX DEBT RATINGS UPGRADED
CHICAGO, Dec. 7 /PRNewswire/ -- Duff & Phelps Inc., the national credit rating agency, today raised its rating of Amax senior debt to D&P-10 (low triple B) from D&P-12 (middle double B). Also upgraded were the company's subordinate debt rating to D&P-11 (high double B) from D&P-13 (low double B) and preferred stock rating to D&P-12 from D&P-14 (high single B). These actions affect approximately $1 billion of debt securities.
"Our rating changes are the result of Amax's restructuring efforts, which have improved the business and financial risk profile of the company. Over the past four years, Amax has exited several ...