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S&P Credit Research1148 word report
published Nov 11, 2009
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| Abstract: | Atlanta, Ga.-based Carter's Inc. announced a delay in its 10-Q filing and restatements of its prior period financial statements, an ongoing review of the company's treatment of margin support payments, and the nondisclosure of such margin payments to the company's finance team. We are concerned about Carter's ability to remain in compliance with its bank loan covenants and uncertainty surrounding the materiality of any findings in the investigations. We placed our 'BB+' long-term corporate credit rating and 'BBB' senior secured debt ratings on Carter's on CreditWatch with negative implications. NEW YORK (Standard&Poor's) Nov. 11, 2009--Standard&Poor's Ratings Services said today it placed its 'BB+' corporate credit rating and other ratings on Carter's Inc. on CreditWatch with negative
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| Brief Excerpt: | RESEARCH Ratings Definitions Carter's Inc. Ratings Placed On Watch Neg Publication date: 11-Nov-2009 Primary Credit Analyst: Jacqueline Hui, New York; jacqueline_hui@standardandpoors.com Atlanta, Ga.-based Carter's Inc. announced...
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| Report Type: | Ratings Action
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| Ticker: | CRI
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| Issuer: | Carter's Inc.
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| GICS: | Apparel, Accessories & Luxury Goods (25203010)
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| Sector: | Global Issuers
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| Country: | United States
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| Region: | United States
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
Also from S&P Credit Research
- Research Update: Carter's Inc. Ratings Placed On CreditWatch Negative $175.00
Atlanta, Ga.-based Carter's Inc. announced a delay in its 10-Q filing and restatements of its prior period financial statements, an ongoing review of the company's treatment of margin support payments, and the nondisclosure of such margin payments ...
- Carter's Inc. Upgraded To 'BB+' From 'BB'; Outlook Stable $100.00
Atlanta, Ga.-based Carter's Inc. has improved its operating performance and credit measures, despite a weak retail environment, as a result of sales growth in its wholesale and retail channels, cost savings actions, better working capital management, ...
- Research Update: Carter's Inc. Rating Raised To 'BB+' From 'BB'; Outlook Stable $175.00
Atlanta, Ga.-based Carter's Inc. has improved its operating performance and credit measures, despite a weak retail environment, as a result of sales growth in its wholesale and retail channels, cost savings actions, better working capital management, ...
- Carter's Inc. $400.00
Distribution channel diversity; and Well-recognized brands. A narrow product portfolio; A highly competitive, promotional industry; and Subject to fashion risk. The ratings on Atlanta, Ga.-based Carter's Inc. reflect the company's narrow product ...
- Summary: Carter's Inc. $175.00
The ratings on Atlanta, Ga.-based Carter's Inc. reflect the company's narrow product focus and the intensely competitive operating environment in which it participates. Carter's benefits from its leading positions in the infant and children's ...
- Outlook On Carter's Is Revised To Positive From Stable; All Ratings Affirmed $100.00
NEW YORK (Standard&Poor's) Sept. 11, 2008--Standard&Poor's Ratings Services said today that it revised its outlook on Atlanta, Ga.-based Carter's Inc. to positive from stable. At the same time, we affirmed all of our ratings on the company, ...
- Research Update: Carter's Inc. Outlook Is Revised To Positive From Stable; All Ratings Affirmed $175.00
On Sept. 11, 2008, Standard&Poor's Ratings Services said that it revised its outlook on Atlanta, Ga.-based Carter's Inc. to positive from stable. At the same time, we affirmed all of our ratings on the company, including the 'BB' corporate ...
- Carter's Inc. $400.00
Favorable demographics; Improving financial profile and operating results; and Leading market shares and diverse distribution channels. Narrow product focus; Intensely competitive market; and Mostly domestic revenue base. The ratings on Atlanta, ...
