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Bulletin: Starbucks Corp. Ratings Unaffected By Announced Australian Store Closings

Published Jul 29, 2008

420 words — Published Jul 29, 2008

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Abstract:

NEW YORK (Standard&Poor's) July 29, 2008—Standard&Poor's Ratings Services said today that its ratings on Seattle-based Starbucks Corp. (BBB+/Watch Neg/A-2) are unchanged but remain on CreditWatch with negative implications after the company's announcement today that it will be closing 61 of its 84 Australian stores as part of a restructuring initiative. Starbucks also announced today a realignment of its executive leadership team and the elimination of approximately 1,000 positions within the company. We initially placed the ratings on CreditWatch on July 2, 2008, after the company announced the closure of 600 underperforming U.S. stores. While the Australian store closures represent a significant portion of Starbucks' Australian market, the total of 61 is far less significant when compared

Brief Excerpt:

RESEARCH Bulletin: Starbucks Corp. Ratings Unaffected By Announced Australian Store Closings Publication date: 29-Jul-2008 Primary Credit Analyst: Jackie E Oberoi, New York (1) 212-438-2895; jackie_oberoi@standardandpoors.com NEW...

Report Type:

Bulletin

Ticker

SBUX

Issuer

Starbucks Corp.

GICS

Restaurants (25301040)

Sector

Global Issuers

Country

United States

Region

United States

Format:

HTML

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MLA:	S&P Global Ratings’ Credit Research. "Bulletin: Starbucks Corp. Ratings Unaffected By Announced Australian Store Closings" Jul 29, 2008. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Starbucks-Corp-Ratings-Unaffected-By-Announced-Australian-Store-Closings-662169>

APA:	S&P Global Ratings’ Credit Research. (). Bulletin: Starbucks Corp. Ratings Unaffected By Announced Australian Store Closings Jul 29, 2008. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Starbucks-Corp-Ratings-Unaffected-By-Announced-Australian-Store-Closings-662169>

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