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Prospect News home > News index > List of issuers K > Headlines for Kellwood Co. > News item |
S&P cuts Kellwood to junk
Standard & Poor's said it lowered its long-term corporate credit rating on Kellwood Co. to BB from BBB- and lowered the senior unsecured debt rating to BB from BBB-.
The outlook is stable.
S&P said the downgrade follows the company's downward revision of its full-year results for fiscal 2005; its weaker-than-expected operating performance in recent periods, including the first quarter, ended April 30; and uncertainty as to when credit protection measures will recover.
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