|
|
 |
|
Viewing report
|
|
|
|
Brown Shoe Co. Inc. Downgraded To 'B-' Because Of Weaker Performance
Standard & Poors, Sep 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
-- Brown Shoe's recent performance has been weak, leading to a deterioration of its credit protection metrics. -- EBITDA has declined 41% over the past year due to negative same-store sales, a significant reduction in demand at the wholesale segment, and substantial expense deleveraging. -- We are lowering the corporate credit rating on Brown Shoe to 'B-' from 'B'. -- Our stable outlook reflects that the company's liquidity position is likely to remain adequate despite our expectations for further performance declines and a weakening of credit metrics. NEW YORK (Standard & Poor's) Sept. 1, 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 'B'. At the...
Companies mentioned in this report are: Brown Shoe Co. Inc.
Action: Downgraded
|
|
|
|
