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Brown Shoe Co. Inc. Unsecured Debt Rating Revised To 'B' From 'B-', 'B' Corporate Credit Rating Affirmed
Standard & Poors, June 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
-- We are revising the issue-level rating on the St. Louis, Mo.-based Brown Shoe Co. Inc's. (Brown Shoe) unsecured debt to 'B' from 'B-' and revising the recovery rating to '4' from '5'. -- The upgrade reflects our estimations of incremental value available to unsecured debt holders based on our revised discreet asset analysis, which provides a greater valuation to the company's fixed assets. -- We are affirming the 'B' corporate credit ratings and negative outlook, which reflects our expectation for operations to be challenged in the near term given the poor retail environment. NEW YORK (Standard & Poor's) June 10, 2009--Standard & Poor's Ratings Services said today that it revised its issue-level rating on Brown Shoe to 'B' from...
Companies mentioned in this report are: Brown Shoe Co. Inc.
Action: Upgraded
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