|
|
 |
|
Viewing report
|
|
|
|
BCBG Max Azria Group Inc. Feb 12
Standard & Poors, Feb 2012
Abstract
Recognized brand name. Weak liquidity with very limited covenant headroom. Highly leveraged financial risk profile. Participation in the intensely competitive specialty apparel retail industry. High reliance on founder and CEO Max Azria. The ratings on Vernon, Calif.-based specialty apparel retailer BCBG Max Azria Group Inc. reflect Standard & Poor's expectations that weaker-than-previously-expected operating performance could trigger a financial covenant violation, when it becomes applicable for the fourth quarter of fiscal 2011. It also reflects our view of the company's 'weak' liquidity profile (as defined in our criteria), although we expect that revenue base and operating performance should stabilize somewhat in fiscal 2012, as the company has completed its exit from the mass market and as the retail environment gradually improves....
Companies mentioned in this report are: BCBG Max Azria Group Inc.
Action: Review
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: Full Analysis
|
|
|
|
