Research Update: HSN Inc. Outlook Revised To Positive On Better-Than-Expected Performance And Lower Leverage Jan 11
Standard & Poors, January 2011
Abstract
U.S. TV shopping operator HSNi's performance year-to-date has been above our expectations, with solid results at its two segments, HSN and Cornerstone. The good performance resulted in stronger credit measures and HSNi's debt leverage decreased a turn to 1.6x. We are revising our outlook on HSNi to positive from stable and affirming our 'BB-' corporate credit rating. The positive outlook reflects our expectation that solid operating performance will likely continue into 2011. On Jan. 5, 2011, Standard & Poor's Ratings Services revised its rating outlook on St. Petersburg, Fla.-based HSN Inc. (HSNi) to positive from stable. At the same time, we affirmed existing ratings on the company, including the 'BB-' corporate credit rating. The 'BB-' corporate rating and the positive...
Companies mentioned in this report are: HSN Inc.
Action: Affirmed
Action: Outlook: Positive
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
HSN Inc.
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