NEW YORK (Standard&Poor's) March 12, 2007--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 placement follows the company's earnings announcement for the first quarter ended January 2007," said Standard&Poor's credit analyst Susan Ding. "Operating results were below our expectations due to the weak winter season, which resulted in poor reorders, heavy markdowns, and significant reduction in orders for the next season for the Rossignol business," said Ms. Ding. It is likely that operating results for the next several quarters will be depressed as a result of the softness in the hard goods business. Leverage remains very high at about
