Standard & Poor's Raises Superior Essex

    Credit ratings agency Standard & Poor's on Monday upgraded wire and cable manufacturer Superior Essex Inc.'s corporate credit rating, as well as the rating for its senior secured credit facility and senior secured notes.  Superior Essex now has a corporate credit rating of BB-, up from B+. The company's senior secured credit facility of $225 million is rated BB+, and $252 million in senior notes rated is B+. The outlook for the company is stable.

    Standard & Poor's cited Superior Essex's growing profitability over the last three years, as well as an improved debt-to-asset ratio.  Superior Essex shares rose $1.08, or 3.1 percent, to $35.62 in afternoon trading on the Nasdaq Stock Market.

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