Fitch revises Qurate, Liberty QVC views to stable

Fitch Ratings said it revised the outlooks for Qurate Retail, Inc., Liberty Interactive LLC and QVC Inc. to stable from positive.

Fitch cited lower-than-expected fourth quarter and fiscal year 2019 results with total revenues falling 4% for the revision.

Qurate did have some bright spots in FY2019 that support the stable outlook, Fitch said. Qurate continues to move aggressively to reverse the underperformance, especially at Zulily, which saw a significant change in senior management during the year. QVC International saw a 1.5% constant currency revenue improvement for FY2019 led by QVC Japan.

Fitch affirmed the BB ratings for the three companies.

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