| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for Radio Shack Corp. > News item |
Fitch lowers RadioShack
Fitch Ratings said it downgraded its long-term issuer default rating for RadioShack Corp. to B+ from BB.
The outlook is negative.
The downgrade reflects weaker-than-anticipated operating results, increased leverage as well as a more shareholder friendly posture at a time when the trends in the business are exhibiting more instability than prior periods, the agency noted.
The recent declines in EBITDA are more pronounced than expected, and Fitch said it believes there is greater uncertainty in the business. Total lease adjusted leverage stood at about 4.1 times at the end of 2010.
Fitch added that it now expects leverage to be in the 5x area for the near-to-intermediate term.
© 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.