NEW YORK (Standard&Poor's) April 1, 2008--Standard&Poor's Ratings Services said today it placed its ratings on Quiksilver Inc., including its 'BB-' corporate credit rating, on CreditWatch with negative implications. The Huntington Beach, Calif.-based apparel company had about $996 million in debt outstanding at Jan. 31, 2008. The CreditWatch placement reflects the much weaker-than-expected credit measures reported for the first quarter ended January 2008. "While we expected that results would be lower due to the company's current difficulties with its Rossignol hard-good equipment business," said Standard&Poor's credit analyst Susan Ding, "financial measures for the last 12 months came in well below our expectations, despite the $100 million debt reduction from the sale of its Cleveland Golf
