| Title: | Duane Reade Inc. Corporate Credit Rating Raised To 'CCC+' As Credit Metrics Improve |
| Price: | $100.00 |
| Publication Date: | Apr 30, 2008 |
| Report Type: | News |
| Abstract: | NEW YORK (Standard&Poor's) April 30, 2008--Standard&Poor's Rating Services said today it raised the corporate credit rating on New York City-based Duane Reade Inc. to 'CCC+' from 'CCC'. The outlook is developing, which means we could raise, maintain, or lower the ratings. "The upgrade reflects the improvements in operating performance the company has achieved over the past two years," said Standard&Poor's credit analyst Diane Shand. Duane Reade has generated good same-store sales growth over the past two years and the operating margin has improved to 11.5% in the trailing 12 months ended March 29, 2008, from 9.3% in the trailing 12 months ended April 1, 2006. The margin expansion is the result of sales leverage, |
| Brief Excerpt: | RESEARCH Ratings Definitions Duane Reade Inc. Corporate Credit Rating Raised To '###+' As Credit Metrics Improve Publication date: ##-Apr-#### Primary Credit Analyst: Diane Shand, New York (#) ###-###-####; diane_shand@standardandpoors.com... |
| Word Count: | 490 |
| Ticker: | DRD |
| Issuer: | Duane Reade Inc. |
| GICS: | Drug Retail (30101010) |
| Sector: | Structured Finance, Global Issuers, Corporations, Asset-Backed Securities, Retail, Health Care |
| Country: | United States |
| Region: | United States |
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