Marks & Spencer & Units Rtgs Affmd by S&P;Outlook Stable May 97
Standard & Poors, May 1997
Abstract
LONDON -- Standard & Poor's CreditWire 5/30/97 -- Standard & Poor's today has affirmed its long and short-term ratings of Marks & Spencer PLC (M&S) and related entities (see list below). The outlook is stable. The ratings reflect M&S's solid business and financial profile as one of the U.K.'s leading retailers as evidenced by the group's above average profitability, strong cash flow generation, and low, lease adjusted net debt. Sales for the year ended March 31, 1997 were about UK7.8 billion ($12.6 billion) and operating profits (before depreciation and amortization) were UK1.2 billion. M&S's sales and profits are highly concentrated in retail sales of clothing, food, and home furnishings in the U.K. market (81% of sales and 91% of operating...
Companies mentioned in this report are: Marks & Spencer PLC
Action: Affirmed
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.
Marks & Spencer PLC
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