S&P raises Newell Rubbermaid outlook to positive

CHICAGO — Standard & Poor's Ratings Services is raising Newell Rubbermaid Inc.'s outlook to positive from stable, citing the consumer product maker's cost cuts and rising stock price.

The ratings agency also said Tuesday that the outlook revision accounts for expectations the company "can continue to generate satisfactory free cash flow to pay down debt and improve credit measures despite probable raw material cost inflation."

S&P maintained Newell Rubbermaid's ratings, including its investment grade "BBB-" corporate credit rating and "A-3" short-term ratings.

Newell Rubbermaid said in January that President and CEO Mark Ketchum will retire later this year. He will remain with the company's board until spring 2012.

In addition to Rubbermaid, the Atlanta company's brands include Sharpie, Calphalon and Lenox.

Newell Rubbermaid's stock is up 6 percent since the beginning of the year. The shares gained a penny to $19.35 in afternoon trading on Tuesday.