S&P revises Hudson's Bay view to stable

S&P said it revised its outlook on Hudson's Bay Co. to stable from negative and affirmed all of its ratings on the company, including the B long-term issuer credit rating on the company.

“The stable outlook reflects our expectation for S&P Global adjusted debt-to-EBITDA to drop to 8.5x in 2018 and improve modestly to 8.0x in 2019,” S&P said in a news release.

“These measures exclude the US$500 million of mandatorily convertible preferred shares included in our previous leverage calculations.”

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