S&P affirms Beverages & More!

Standard & Poor's said it affirmed the corporate credit rating on Beverages & More! Inc. at B- and removed the company from Creditwatch, where it was placed with negative implications on Feb. 25.

The outlook is negative.

On Feb. 25, the agency said it placed its ratings on BevMo on Creditwatch with negative implications, reflecting weak same-store sales growth, expectations for ongoing challenges in the retail environment over at least the near term, regional concentration in areas where the recession has had a dramatic impact, and the deterioration of the company's credit protection profile.

"As we reviewed the rating," said S&P credit analyst David Kuntz, "we anticipate that performance is likely to remain weak over the near term, but that the company's liquidity position will remain adequate due to its ability to moderate its growth and manage its working capital."

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