S&P: Briggs & Stratton on watch

Standard & Poor's said it placed its BBB- corporate credit and senior unsecured debt ratings for Briggs & Stratton Corp. on CreditWatch with negative implications.

The CreditWatch listing reflects weaker-than-expected operating performance and credit protection measures that are below S&P's expectations for the BBB- rating.

The agency noted that the company's financial performance in fiscal 2006 and the first quarter of fiscal 2007 has been negatively impacted by lower engine unit volumes across the company's segments that has been primarily attributed to reduced demand from original equipment manufacturers and a softer retail environment.

© 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.