S&P: Pier 1 Imports still on watch

Standard & Poor's said its B corporate credit and B- unsecured debt ratings on Pier 1 Imports Inc. remain on CreditWatch with negative implications.

The ratings were lowered and listed on CreditWatch Feb. 7 due to substantially weaker operating results for the fiscal year ended Feb. 25, S&P noted.

The agency added that the company recently announced that it had hired an investment bank to assist in seeking strategic alternatives to enhance shareholder value.

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