S&P: Warnaco unaffected

Standard & Poor's said there would be no immediate effect on the ratings on Warnaco Group Inc. (BB/stable) following its announcement of several strategic initiatives.

According to S&P, the company plans to transfer its Mexican swimwear manufacturing operations, sell certain swimwear brands and exit its private-label and designer swimwear businesses.

Swimwear operations are seasonal and have lower margins than Warnaco's other businesses, the agency said. The company's manufacturing operations will be outsourced following the repositioning, S&P said.

The initiatives will allow the company to better focus on its key brands and continue its positive operating momentum, according to the agency.

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