S&P lowers Eddie Bauer view to stable

Standard & Poor’s said it affirmed the ratings on Everest Holdings LLC, doing business as Eddie Bauer, including its B- corporate credit rating.

The agency also said it revised its outlook to stable from positive.

The outlook revision reflects a view that the current credit measures are stable and will likely remain at or near current levels over the next several quarters, S&P said.

Eddie Bauer has embarked on a re-branding strategy and has implemented cost-saving initiatives to improve operating margins, the agency said.

Still, S&P said it expects both revenue and gross margin to be flat year-over-year.

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