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Brown Shoe Co. Inc. 'BB-' Corporate Credit Rating On CreditWatch Negative Feb 09

  • ID: 1752635
  • February 2009
  • Standard & Poors
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NEW YORK (Standard & Poor's) Feb. 25, 2009--Standard & Poor's Ratings Services said today it placed its ratings, including the 'BB-' corporate credit rating, on St. Louis-based Brown Shoe Co. Inc. on CreditWatch with negative implications. "The rating action reflects our expectation for fourth-quarter operations to be below our already lowered expectations and ongoing performance challenges at least over the near term," said Standard & Poor's credit analyst David Kuntz. He added that another factor is further deterioration of credit protection metrics, which are already below average for the rating category....

Companies mentioned in this report are:
- Caleres Inc.

Action: On CreditWatch:Negative

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.

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- Caleres Inc.

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