S&P rates kgb loan B+

Standard & Poor's said it affirmed kgb's B+ corporate credit rating and the B+ issue rating and 3 recovery rating on kgb's existing secured term loan.

The outlook is stable.

The agency assigned a B+ issue rating and 3 recovery rating to the company's amended and extended $126 million revolving credit, which replaces the current $200 million facility.

"The ratings reflect a weak business position resulting from ongoing margin compression in the company's wholesale U.S. business and significant dependence on the retail DA business in Europe," S&P analyst Catherine Cosentino said in a statement.

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