Daily News Record, June 30th, 1995
NEW YORK (FNS) -- Standard & Poor's Ratings Service raised its rating on JPS Textile Group Inc.'s subordinated debt to triple C-plus from triple C-minus and removed it from CreditWatch.
About $250 million of rated debt is outstanding.
Although the upgrade reflects an improved financial profile, the company still faces "substantial" debt maturities starting in early fiscal 1997, S&P said.
These factors are tempered somewhat by the company's diversified product line and by the flexibility provided by unused borrowing cap...
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