S&P: Elizabeth Arden unchanged

Standard & Poor's said its ratings and outlook on Elizabeth Arden (B+/positive) currently are unaffected by the company's announcement that fiscal third-quarter sales of $191 million were below prior guidance of $195 million-$200 million and management has lowered sales and earnings guidance for fiscal 2006.

The company continues to have credit measures appropriate for the rating and positive outlook, the agency noted.

Lease-adjusted total debt to EBITDA was about 3.2 times for the 12 months ended March 31, a slight increase from 3.0 times at fiscal 2005, S&P added.

The agency said it expects growth in developing markets and new product development will help offset retailer issues in fiscal 2007.

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