Moody's rates Quiksilver notes B1

Moody's Investors Service said it assigned a rating of B1 to Quiksilver Inc.'s proposed $350 million senior unsecured notes due 2015.

The first-time ratings of Quiksilver were issued in connection with the company's plans to finance the acquisition of Rossignol SA, the agency said.

Moody's also said it assigned the company a Ba3 corporate family rating, B1 senior unsecured bond rating and SGL-3 speculative-grade liquidity rating.

The ratings reflect Quiksilver's moderate leverage and reduced pro-forma profitability following the acquisition, the operating challenge of integrating Rossignol and the fashion risk inherent in Quiksilver's core products, the agency said.

The ratings are supported by the very strong market presence and name recognition, which both Quiksilver and Rossignol enjoy among end consumers, Moody's added.

© 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.