Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Escada AG > News item |
Moody's may lower Escada
Moody's Investors Service said it placed Escada AG's corporate family rating of B2 and the senior unsecured rating on the notes due 2012 of B2 on review for possible downgrade.
The rating action follows the company's second profit warning announcement over the last two months and follows the ratings downgrade by one notch on May 15, the agency noted.
On June 20, Escada announced that following significant revenues drop at its BiBa retail chain during the period from February to April, the company is reviewing its EBITDA target for the current FYE October 2008 to €37 million, which compares unfavorably to the €51 million announced in early April and to the €68.2 million reported at FYE October 2007.
© 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.