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ATLANTA, April 16 /PRNewswire-FirstCall/ -- Superior Essex Inc. , one of the largest wire and cable manufacturers in the world, announced today that Standard & Poor's Ratings Services (S&P) has upgraded the ratings assigned to the Company, its senior secured credit facility, and its senior secured notes.
The ratings were in line with Company expectations, and statements from the rating agency address the progress that Superior Essex has made over the past few years. Standard & Poor's noted, "the upgrade reflects the significant progress made over the last three years in improving profitability, as well as substantially improved leverage metrics."
Ratings Summary:
Standard & Poor's
Corporate credit rating BB-
Senior secured credit facility ($225 million) BB+
Senior notes ($252 million) B+
Outlook Stable
About Superior Essex
Superior Essex Inc., a FORTUNE 1,000 company, is one of the largest wire and cable manufacturers in the world. The Company manufactures a broad portfolio of wire and cable products with primary applications in the communications, magnet wire and related distribution markets. It is a leading manufacturer and supplier of copper and fiber optic communications wire and cable products to telephone companies, distributors and system integrators; a leading manufacturer and supplier of magnet wire and fabricated insulation products to major original equipment manufacturers (OEMs) for use in motors, transformers, generators and electrical controls; and a distributor of magnet wire, insulation, and related products to smaller OEMs and motor repair facilities. Additional information on the Company can be found on its Web site at http://www.superioressex.com/.
Superior Essex Inc.
CONTACT: Peggy Tharp, Director of Investor Relations of Superior Essex Inc., +1-770-657-6246