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Brown Shoe Co. Inc. Upgraded To 'B+' As Performance Improves
Standard & Poors, Sep 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
U.S. footwear retailer Brown Shoe has experienced operational gains over the past few quarters and we expect likely positive performance over the near term. Credit metrics have improved and we anticipate incremental enhancement to the company's credit protection profile over the next year. We are raising our corporate credit rating on Brown Shoe to 'B+' from 'B'. The stable outlook reflects our belief that the company will continue to make further operational gains because of its on-trend merchandise offering and that it will use a portion of its free operating cash flow to reduce funded debt NEW YORK (Standard & Poor's) Sept. 1, 2010--Standard & Poor's Ratings Services said today it raised its corporate credit rating on St. Louis-based Brown...
Companies mentioned in this report are: Brown Shoe Co. Inc.
Action: Upgraded
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