12.06.2009

Contact lens firm upgraded to "stable"

Contact lens firm upgraded to "stable"

By Martin Burns

A contact lens firm has had its prospects upgraded to "stable" by Standard & Poor.

But credit analyst Cheryl Richer said that Cooper has a "dependence on soft contact lenses and the need to compete against much larger players".

Cooper shares rose to $27 (£16) recently.

The rise in Cooper"s outlook demonstrates the expectation that its debt will carry on being reduced.

Standard & Poor is an independent credit rating provider as well as giving information on matters such as investment research and risk evaluation.

Last last month, Unilens reported a two per cent rise in sales in the most recent quarter of the fiscal year when compared to the same time in 2008.

The Tampa Bay Business Journal reported that it had cited a brand of daily disposable lenses as the main reason for its good performance.

According to Unilens, the C-Vue contact lenses were the main factor in bringing about its rise in sales.

by Emily Tait


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