| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers L > Headlines for L Brands, Inc. > News item |
S&P revises L Brands views to stable
S&P said it changed the outlook for L Brands Inc. to stable from negative and affirmed all its ratings for L Brands, including the B+ issuer rating.
The outlook change mirrors the company’s Bath & Body Works subsidiary’s better-than-expected second-quarter results, which along with benefits from cost savings initiatives, led S&P to revises its forecast for L Brands, the agency said.
“BBW's sales rose by 13% during the second quarter, following an 18% decline in the first quarter, largely due to very strong year-over-year direct (online) sales growth of 191%. We believe this trend clearly demonstrates the solid consumer demand for BBW's merchandise (particularly soaps and hand sanitizer) because of the increased focus on cleanliness due to the pandemic,” S&P said in a press release.
The agency said it now forecasts L Brands will maintain an S&P-adjusted leverage of less than 5x.
© 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.