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Brown Shoe Co. Outlook Revised to Stable from Negative; Ratings Affirmed
Standard & Poors, Nov 1999
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
NEW YORK (Standard & Poor's CreditWire) Nov. 9, 1999--Standard & Poor's today revised its outlook on Brown Shoe Co. Inc. to stable from negative. The double-'B' corporate credit and senior unsecured debt ratings for the company were affirmed. The outlook revision reflects Standard & Poor's expectation that Brown Shoe Co.'s business has been stabilized and that credit protection measures will at least remain at current levels over the next few years. The speculative-grade rating considers Brown Shoe Co.'s participation in the competitive wholesale and retail footwear businesses and low returns on permanent capital. These factors are mitigated by the company's diversified sourcing and wholesale customer base, which includes major department store and discount department store operators, as well as its...
Companies mentioned in this report are: Brown Shoe Co. Inc.
Action: Outlook Revised
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