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Brown Shoe Co. Inc. Corporate Credit Rating Raised To 'B' From 'B-' On Improved Sales Trends; Outlook Is Positive
Standard & Poors, March 2010
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
Sales and margins trends for St. Louis-based Brown Shoe Co. Inc. improved during the second half of 2009, and we expect this to continue in the near term. We are raising our corporate credit rating on Brown Shoe to 'B' from 'B-'. Credit metrics also improved, and we expect moderate gains in the company's credit protection profile over the next year. The positive outlook reflects our belief that Brown Shoe will continue making incremental operational gains as consumers begin increasing spending; we believe the company will use a portion of its cash on hand to reduce funded debt. NEW YORK (Standard & Poor's) March 30, 2010--Standard & Poor's Ratings Services said today that it raised its corporate credit rating on...
Companies mentioned in this report are: Brown Shoe Co. Inc.
Action: Upgraded
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