|
|
 |
|
Viewing report
|
|
|
|
Brown Shoe Co. Inc. Downgraded To 'B' With Negative Outlook
Standard & Poors, March 2009
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) March 6, 2009--Standard & Poor's Ratings Services said today it lowered its corporate credit rating on St. Louis-based Brown Shoe Co. Inc. to 'B' from 'BB-'. At the same time, we lowered the issue-level rating on the company's senior unsecured notes to 'B-' from 'B+'. We removed all ratings from CreditWatch, where they were placed with negative implications on Feb. 25, 2009. The outlook is negative. 'The downgrade reflects weaker-than-expected performance, significant deterioration of credit protection metrics, and expectations for ongoing challenges given the difficult retail environment,' said Standard & Poor's credit analyst David Kuntz....
Companies mentioned in this report are: Brown Shoe Co. Inc.
Action: Downgraded
Action: Outlook: Negative
Action: Removed From CreditWatch
|
|
|
|
