Fitch ups Safilo view to stable

Fitch Ratings said it changed Safilo SpA's outlook to stable from negative following first-half 2005 results which reported continued improvements in sales and profitability.

Its ratings are affirmed at senior unsecured and short-term B, while its senior secured debt is affirmed at B+. At the same time, Fitch has affirmed Safilo Capital International SA's €300 million senior notes due 2013 at CCC+.

Fitch said Safilo's first-half 2005 results indicate that the company is on track to achieve sizable increases in sales and profitability in the current year. As a result, financial leverage ratios are on a downward trend.

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