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S&P: RadioShack notes BB
Standard & Poor's said it assigned a BB rating to RadioShack Corp.'s proposed $300 million of senior unsecured notes due 2019.
The agency also said it assigned the notes a recovery rating of 4, indicating 30% to 50% expected recovery in a default and affirmed its corporate credit rating at BB.
The proceeds will be used for general corporate purposes, including repurchase of its common stock.
The outlook is stable.
The ratings reflect an expectation that RadioShack will be able to maintain performance despite weak economic conditions and some pressure on margins as the change in the assortment to lower-margin products continues in 2011, S&P said.
The agency said it expects sales growth to continue in the wireless segment, but remain mixed in the company's other segments.
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