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
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: Outlook: Stable
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Product Type: Research Update
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