S&P lifts Express to stable

Standard & Poor’s said it revised the outlook on Express Inc. to stable from negative.

The agency also said it affirmed all of the ratings on Express, including its BB corporate credit rating.

The outlook revision reflects an expectation for improved credit metrics following the completion of the redemption for the company’s outstanding senior notes, S&P said.

The redemption is expected to be completed March 1 and the company’s leverage ratio is expected to improve to 2x the senior notes are retired, the agency said.

But, S&P added that it expects operating trends to improve only modestly in 2015, following weak operating trends in 2014.

The specialty apparel industry will remain difficult and highly promotional because of increased competition and consumer caution, the agency said.

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