| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers E > Headlines for Express Inc. > News item |
S&P lifts Express, notes to BB
Standard & Poor's said it raised its corporate credit rating on Express Inc. to BB from BB-.
The agency said it also raised the issue-level rating on the company's senior unsecured notes to BB from B+ and revised the recovery rating to 3 from 5.
The agency said the 3 recovery rating reflects an expectation of meaningful recovery of principal in the event of default.
In addition, the agency said it removed the ratings from CreditWatch, where they had been placed with positive implications on Dec. 7. The outlook is stable.
"The speculative ratings on Express Inc. reflect Standard & Poor's expectation that the company's operating performance in fiscal 2012 will remain good, with revenue growth from store expansion and positive same-store sales," said S&P credit analyst Helena Song in a news release.
© 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.