| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers D > Headlines for Duane Reade, Inc. > News item |
S&P ups Duane Reade
Standard & Poor's said it raised the corporate credit rating on Duane Reade Inc. to CCC+ from CCC.
The outlook is developing.
According to S&P, the upgrade reflects the improved operating performance over the past two years.
Ratings reflect the company's very highly leveraged capital structure, extremely thin cash flow protection measures, weak financial flexibility because of continued net losses and narrow geographic focus, the agency said.
For the 12 months ended March 29, the total debt-to-EBITDA ratio fell to 10.1 times.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.