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Research Update: Costco Wholesale Corp. 'A' Rating Placed On CreditWatch Positive Dec 09
Standard & Poors, December 2009
Costco's profitability and credit metrics remained very strong during fiscal 2009 despite difficult operating conditions. We expect these trends to continue. We are placing our ratings on Costco on CreditWatch with positive implications. On Dec. 11, 2009, Standard & Poor's Ratings Services placed its ratings, including its 'A' corporate credit rating, on Costco Wholesale Corp. on CreditWatch with positive implications. We could raise the ratings if we achieve adequate comfort regarding Costco's future financial policy and operating performance. Although Costco experienced declining sales during its fiscal year ended August 2009, its profitability and credit metrics remained very strong. We believe the company's focus on necessities and lower prices helped it withstand the recessionary headwinds relatively well. Falling gasoline prices coupled...
Companies mentioned in this report are: Costco Wholesale Corp.
Action: CreditWatch Update
Action: On CreditWatch: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.
Costco Wholesale Corp.