S&P puts Liz Claiborne on watch

Standard & Poor's said it placed Liz Claiborne Inc.'s BBB long-term and A-3 short-term corporate credit ratings on CreditWatch with negative implications.

The watch follows the company's weak first-quarter results, driven by significant operating pressure on its Partnered Brands business, the agency said.

Leverage was more than 4 times for the 12 months ended April 5, according to S&P.

The agency said it believes Liz Claiborne will be challenged to restore credit measures closer to those commensurate with a BBB rating given the weak retail and economic environment.

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