S&P assigns B- to Kirk Beauty A

S&P said it assigned a B- issuer rating to Kirk Beauty A GmbH with a stable outlook and withdrew the B- rating on Kirk Beauty Two GmbH.

After the group’s corporate reorganization, Kirk Beauty A will now publish the group’s consolidated accounts.

“Kirk Beauty's operating performance exceeded our expectations in 2022, with record sales of €3.7 billion and stronger margins. Although we expect it to sustain these improvements, the effect of inflation on discretionary spending and costs, combined with rising interest rates, could curtail further improvements,” the agency said in a press release.

S&P said it expects stable group operating performance over the next three years.

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