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Prospect News home > News index > List of issuers S > Headlines for Saks Inc. > News item
Published on 4/21/2006 in the Prospect News Bank Loan Daily, Prospect News Convertibles Daily and Prospect News High Yield Daily.

Fitch affirms Saks

Fitch Ratings said it affirmed the ratings of Saks Inc. as follows: issuer default rating at B, secured bank facility at BB/RR1 and senior unsecured notes at B/RR4.

The outlook is negative.

The ratings of the $500 million secured bank facility and senior unsecured notes reflect their respective recovery prospects, Fitch said, noting its recovery analysis assumes an enterprise value in a distressed scenario of $973 million.


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