U.S. global lifestyle apparel marketer and designer Quiksilver Inc. is planning to issue €200 million of senior notes through Boardriders SA, a European subsidiary, with the proceeds to be used to repay certain European term loans. We are raising our corporate credit rating to 'B', raising our issue rating on the company's existing senior unsecured notes to 'CCC+', and assigning our 'B' issue rating and '3' recovery rating to the new Euro senior unsecured notes. We are removing our ratings on Quiksilver from CreditWatch positive. The stable outlook reflects our view that operating performance and credit measures will remain appropriate for the 'B' rating over the near-to-intermediate term. NEW YORK (Standard&Poor's) Nov. 29, 2010--Standard&Poor's Ratings Services
