NEW YORK (TheStreet) -- Altria Group (MO - Get Report) stock is up by 1.13% to $62.73 in late afternoon trading on Wednesday, after Standard & Poor's Ratings Services raised all of the company's credit ratings.
The S&P Ratings Services raised its rating on the cigarette company's long-term corporate credit to an "A-" from "BBB+."
The agency also lifted its rating on the company's short-term commercial paper to "A-1" from "A-2," the S&P said in a statement.
Though cigarette volume trends are expected to drop, Altria will maintain its strong financial profile, the S&P said in a statement.
"The upgrades reflect Altria's continued industry-leading 50% market share, solid profitability, and our assumption that the company will continue to successfully manage the litigation and regulatory environments," S&P credit analyst Gerald Phelan said in a statement.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "buy" with a ratings score of B+. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, growth in earnings per share and increase in net income. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: MO