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S&P lowers Ethan Allen
Standard & Poor's said it lowered its corporate credit and senior unsecured debt ratings on Ethan Allen Interiors Inc. to B+ from BB.
The outlook is negative.
S&P said it also lowered the rating on subsidiary Ethan Allen Global Inc.'s $200 million senior unsecured notes due 2015 to B+ from BB. The recovery rating remains at 3.
The rating actions follow Ethan Allen's very weak operating results in recent quarters and credit protection measures well below expectations, according to the agency.
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