S&P: Safilo still on watch

Standard & Poor's said its B long-term corporate credit and bank loan ratings on Safilo SpA remain on CreditWatch negative, where they were placed on Nov. 16 pending current negotiations between the company and its senior debt lenders.

The subordinated CCC+ rating on the senior notes held by subsidiary Safilo Capital International SA and guaranteed by Safilo SpA remain on CreditWatch negative.

The CreditWatch listing continues to reflect S&P's concerns about Safilo's ability to meet its increasing debt-service requirements and tightening financial covenants.

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