Research Update: PetSmart Inc. Rating Raised To 'BB', Reflecting Improved Operations; Outlook To Stable - S&P Global Ratings’ Credit Research

Research Update: PetSmart Inc. Rating Raised To 'BB', Reflecting Improved Operations; Outlook To Stable

Research Update: PetSmart Inc. Rating Raised To 'BB', Reflecting Improved Operations; Outlook To Stable - S&P Global Ratings’ Credit Research
Research Update: PetSmart Inc. Rating Raised To 'BB', Reflecting Improved Operations; Outlook To Stable
Published Dec 21, 2005
802 words — Published Dec 21, 2005
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On Dec. 21, 2005, Standard&Poor's Ratings Services raised its corporate credit rating on specialty pet retailer PetSmart Inc. to 'BB' from 'BB-'. The upgrade is based on the company's improved operating performance and credit measures. Comparable-store sales increased 4.1% in the first three quarters of 2005, while operating margins expanded to 17.1% from 16.3% the year before. Operating performance has been driven by good execution and favorable industry trends. As a result, cash flow protection measures have continued to strengthen, withlease-adjusted EBITDA for the latest 12 months covering interest by 4.0x, and lease-adjusted debt to EBITDA at 3.0x. The outlook has been revised to stable. The ratings on Phoenix, Ariz.-based PetSmart reflect the risks associated with the company's

  
Brief Excerpt:

RESEARCH Research Update: PetSmart Inc. Rating Raised To '##', Reflecting Improved Operations; Outlook To Stable Publication date: 21-Dec-2005 Credit Rating: ##/Stable/-- Rationale On Dec. 21, 2005, Standard & Poor's Ratings Services...

  
Report Type:

Research Update

Ticker
PETM
Issuer
PetSmart Inc.
GICS
Specialty Stores (25504040)
Sector
Global Issuers, Structured Finance
Country
United States
Region
United States
Format:
HTML HTML
Buy Now

PetSmart Inc. – 2005/12/22 – US$ 500.00

Summary: PetSmart Inc. – 2005/12/23 – US$ 225.00

Summary: PetSmart Inc. – 2006/03/16 – US$ 225.00

Summary: PetSmart Inc. – 2006/06/15 – US$ 225.00

Summary: PetSmart Inc. – 2006/09/15 – US$ 225.00

Summary: PetsMart Inc. – 2005/09/20 – US$ 225.00

Summary: PetsMart Inc. – 2005/07/21 – US$ 225.00

Summary: PetsMart Inc. – 2005/03/31 – US$ 225.00

PetsMart Inc. – 2004/12/21 – US$ 500.00

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: PetSmart Inc. Rating Raised To 'BB', Reflecting Improved Operations; Outlook To Stable" Dec 21, 2005. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-PetSmart-Inc-Rating-Raised-To-BB-Reflecting-Improved-Operations-Outlook-To-Stable-483906>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: PetSmart Inc. Rating Raised To 'BB', Reflecting Improved Operations; Outlook To Stable Dec 21, 2005. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-PetSmart-Inc-Rating-Raised-To-BB-Reflecting-Improved-Operations-Outlook-To-Stable-483906>
  
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