S&P lowers InRetail Consumer

S&P said it lowered its corporate credit rating on InRetail Consumer to BB from BB+ and removed the rating from CreditWatch, where it was placed with negative implications on Jan. 30.

S&P subsequently withdrew the rating on the company at its request. At the time of the withdrawal, the outlook was stable.

“The downgrade of IC reflects the expected deterioration of the company's pro forma leverage metrics due to the incremental debt it is raising to fund its proposed $583 million acquisition of Quicorp,” S&P said 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.