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Brown Shoe Co. Inc. Outlook Revised To Stable From Negative; Ratings Affirmed
Standard & Poors, June 2006
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) June 2, 2006--Standard & Poor's Ratings Services said today it revised its outlook on St. Louis, Mo.-based Brown Shoe Co. Inc. to stable from negative. All ratings, including the 'BB' corporate credit rating, are affirmed. 'The outlook revision reflects the successful integration of Bennett Group and a recovery of credit measures to levels more appropriate for the rating due to good operating results and debt reduction,' said Standard & Poor's credit analyst Ana Lai. 'It also reflects our expectation that credit measures will remain at current levels, supported by improved efficiency and more focused merchandising at its retail division.' Credit protection measures have strengthened. Debt leverage declined to 3.8x for the 12 months ended April...
Companies mentioned in this report are: Brown Shoe Co. Inc.
Action: Affirmed
Action: Outlook: Positive
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