|
|
 |
|
Viewing report
|
|
|
|
Brown Shoe Co. Inc. Downgraded To 'BB-' Because Of Weaker Credit Metrics
Standard & Poors, Aug 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) Aug. 28, 2008--Standard & Poor's Ratings Services said today it lowered its corporate credit rating on St. Louis-based Brown Shoe Co. Inc. to 'BB-' from 'BB'. At the same time, we lowered the issue-level rating on the company's unsecured debt to 'B+' from 'BB-'. The outlook is stable. 'The downgrade reflects the accelerating decline in top-line sales and the persistent negative same-store sales at the Famous Footwear segment,' said Standard & Poor's credit analyst David Kuntz. Another factor is margin decline primarily due to increased promotional activity and operational deleveraging. This has resulted in a sharp deterioration in credit metrics....
Companies mentioned in this report are: Brown Shoe Co. Inc.
Action: Downgraded
|
|
|
|
