S&P lowers Ethan Allen

Standard & Poor's said it lowered its corporate credit and senior unsecured debt ratings on Ethan Allen Interiors Inc. to B+ from BB.

The outlook is negative.

S&P said it also lowered the rating on subsidiary Ethan Allen Global Inc.'s $200 million senior unsecured notes due 2015 to B+ from BB. The recovery rating remains at 3.

The rating actions follow Ethan Allen's very weak operating results in recent quarters and credit protection measures well below expectations, according to the agency.

© 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.