| Title: | Research Update: Duane Reade Inc. Upgraded To 'CCC+' Based On Improving Credit Metrics |
| Price: | $175.00 |
| Publication Date: | Apr 30, 2008 |
| Report Type: | Research Update |
| Abstract: | On April 30, 2008, Standard&Poor's Rating Services 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. 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, an increasing mix of high-margin front-end items and generic drugs, improvements in merchandising, and |
| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: Duane Reade Inc. Upgraded To '###+' Based On Improving Credit Metrics Publication date: ##-Apr-#### Primary Credit Analyst: Diane Shand, New York (#) ###-###-####; diane_shand@standardandpoors.com... |
| Word Count: | 1142 |
| Ticker: | DRD |
| Issuer: | Duane Reade Inc. |
| GICS: | Drug Retail (30101010) |
| Sector: | Global Issuers, Structured Finance, Corporations, Asset-Backed Securities, Retail, Health Care |
| Country: | United States |
| Region: | United States |
| Format: | 
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