Apparently, a stock can just keep getting junkier and junkier. Today Standard & Poor’s Rating Service did just that to Quiksilver, according to a story on Forbes.com.
Standard & Poor’s Ratings Services said Tuesday that it lowered its ratings on Quiksilver Inc. deeper into junk status as the outdoor clothing and equipment company works toward a deal to improve its liquidity and capital structure. . . Our resolution of the CreditWatch listing will focus on Quiksilver’s ability to meet its near-term debt obligations, maintain adequate liquidity, and improve its operating business trends and financial metrics,” S&P said. “If the company can complete a refinancing or strategic transaction, then we may review the ratings for an upgrade.”
Oh, we thought they lowered the rankings because of that new Quiksilver.com/GO website. The one that makes you count to 100 before it loads?
[Link: Forbes.com]
