Standard & Poor's increased the credit rating of Safilo as the Italian eyewear continues its turnaround after being on the brink of bankruptcy in 2009. S&P upgraded Safilo's long-term debt rating to B- from CCC+ to reflect improved profitability and a more stable financial situation thanks to a positive operating free cash flow. The rating of the group's high yield bond was raised to CCC+ from CCC with a stable outlook.