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Brown Shoe Co. Inc. 'BB' Corporate Credit Rating Affirmed; Outlook Revised To Negative
Standard & Poors, April 2008
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) April 11, 2008--Standard & Poor's Ratings Services said today it revised its outlook on St. Louis, Mo.-based Brown Shoe Co. Inc. to negative from stable. At the same time, we affirmed all other ratings on the company, including the 'BB' corporate credit rating. 'The outlook revision reflects the operating challenges facing the company given the generally weak economic conditions,' said Standard & Poor's credit analyst David Kuntz. We also expect sales and margins to be hurt by cost increases from suppliers over the medium term, and a further deterioration in credit metrics for 2008....
Companies mentioned in this report are: Brown Shoe Co. Inc.
Action: Affirmed
Action: Outlook: Negative
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