S&P affirms Abercrombie & Fitch

S&P said it affirmed its ratings, including its BB- corporate credit rating, on Abercrombie & Fitch Co.

The outlook is stable.

The agency said the ratings on Abercrombie & Fitch reflect an expectation that the company's operating performance will remain positive over the next 12 months, driven by good performance at both Hollister and Abercrombie & Fitch.

“We believe that the company will maintain a large cash balance in excess of balance sheet debt and will continue to have ample availability on its revolving credit facility,” S&P said in a news release.

“We also expect the company to generate good free operating cash flow in the mid-$100 million area.”

© 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.