Fitch ups DSG view to positive

Fitch Ratings said it revised DSG International plc's outlook to positive from stable, and affirmed its long-term and short-term issuer default ratings at B and senior unsecured bond rating at B+ with a recovery rating of RR3. Fitch also said it downgraded the company's senior unsecured bank facility to B+ with a recovery rating of RR3 from BB- with a recovery rating of RR2 given that the guarantee structure for the bank facility is now closely aligned with that of the bond.

The outlook revision reflects DSG's improving operating performance, resulting in better credit-metrics and a restored liquidity position since May 2009, Fitch said.

The agency said it believes the company's credit metrics will continue to improve as its renewal and transformation plan gains more traction.

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