S&P: Parkson Retail view to positive

Standard & Poor's said it revised the outlook on Parkson Retail Group Ltd. to positive from stable and affirmed the BB long-term corporate credit rating and the BB issue rating on the company's $200 million 7 7/8% senior unsecured notes due 2011 and $125 million 7 1/8% senior unsecured notes due 2012.

The outlook was revised to reflect a view that Parkson will continue to demonstrate a track record of good execution of a controlled-growth strategy, S&P said.

The company's financial performance has steadily improved over the past three years, including during the market downturn in 2008, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.