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Research Update: Unifi Inc. 'B' Rating Affirmed; Outlook Revised To Stable From Positive As Rising Costs Wear Down Profits May 12 Product Image

Research Update: Unifi Inc. 'B' Rating Affirmed; Outlook Revised To Stable From Positive As Rising Costs Wear Down Profits May 12

  • ID: 2127091
  • May 2012
  • Standard & Poors

Abstract
U.S.-based textile manufacturer and distributor Unifi Inc.'s operating performance and credit measures have weakened more than expected over the past year because of rising polyester raw material costs. We are affirming the 'B' corporate credit rating on Unifi and the 'B+' issue-level rating on the senior secured notes due 2014. We are revising the outlook to stable from positive, as we no longer believe the company will hit our benchmarks for an upgrade. On May 9, 2012, Standard & Poor's Ratings Services revised its rating outlook on Greensboro, N.C.-based Unifi Inc. to stable from positive. We also affirmed our 'B' corporate credit rating on the company and 'B+' issue-level rating on the company's senior secured notes due 2014. The rating...

Companies mentioned in this report are: Unifi Inc.
Action: Affirmed
Action: Outlook: Stable

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.

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