NEW YORK -- Standard & Poor's has lowered its corporate credit rating for The Dixie Group Inc. to single-'B'-plus from double-'B'.
At the same time, the subordinated debt rating was lowered to single-'B'-minus from single-'B'-plus. The ratings remain on CreditWatch with negative implications, where they were initially placed on Oct. 12, 2000. Total rated debt is about $40 million.