S&P may lower Ethan Allen

Standard & Poor's said it placed Ethan Allen Interiors Inc.'s BBB+ corporate credit rating on CreditWatch with negative implications.

The watch follows the company's first quarter results for fiscal 2009, which will be below expectations due to the effects of a difficult consumer spending environment, S&P said.

Credit metrics remain weak for the rating, the agency said, with adjusted total debt-to-EBITDA ratio of about 2.8 times at June 30.

Fitch rates Philip Morris bonds A+

Fitch Ratings said it assigned Philip Morris International Inc.'s CHF 500 million bonds an expected senior unsecured rating of A+.

The issuer has a long-term issuer default rating of A+ with a negative outlook.

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