S&P changes Qurate outlook to stable

S&P said it changed its outlook for Qurate Retail Inc. to stable from negative and affirmed its ratings, including the CCC+ issuer rating.

“Qurate has made progress reducing debt and steadying the trajectory of the business after a difficult 2022. S&P Global Ratings-adjusted leverage declined to 6.3x at fiscal year-end 2023 from 7.4x in 2022, amid higher profits from enhanced inventory management and merchandising,” the agency said in a press release.

S&P noted it expects the company to sustain adequate liquidity over the next 12 months even though it considers Qurate’s capital structure unsustainable.

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