S&P: Head on watch

Standard & Poor's said it placed its B long-term corporate credit rating on Head NV on CreditWatch with negative implications.

At the same time, the B- senior unsecured debt rating on related entity HTM Sport und Freizeitgeraete AG was also placed on CreditWatch with negative implications, the agency said.

S&P noted that the CreditWatch placement reflects its concerns that the company's financial policy is becoming more aggressive at a time when business conditions in Head's key winter sports equipment division are expected to deteriorate significantly, following disappointing snow conditions in most of its key skiing markets.

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