NEW YORK (Standard&Poor's) March 17, 2009--Standard&Poor's Ratings Services said today that it lowered its ratings on Huntington Beach, Calif.-based Quiksilver Inc., including its corporate credit rating, to 'B-' from 'B+'. At the same time, we placed Quiksilver's ratings on CreditWatch with developing implications, meaning that we could lower the ratings further, or raise them following the completion of our review. As of Jan. 31, 2009, Quiksilver had about $1.4 billion in adjusted debt. "The downgrade and CreditWatch placement follow Quiksilver's announcement of an extension on the maturity of its €55 million line of credit agreement, and that it intends to conclude a strategic or refinancing transaction in the period covered by this extension," said Standard&
