Research Update: Quiksilver Inc. Downgraded To 'CCC+' On Continued Weak Operating Performance And Weakening Liquidity; Outlook Negative - S&P Global Ratings’ Credit Research

Research Update: Quiksilver Inc. Downgraded To 'CCC+' On Continued Weak Operating Performance And Weakening Liquidity; Outlook Negative

Research Update: Quiksilver Inc. Downgraded To 'CCC+' On Continued Weak Operating Performance And Weakening Liquidity; Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: Quiksilver Inc. Downgraded To 'CCC+' On Continued Weak Operating Performance And Weakening Liquidity; Outlook Negative
Published Jun 19, 2015
8 pages (2598 words) — Published Jun 19, 2015
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

U.S.-based Quiksilver Inc.'s operating performance continues to be weak, and well below our expectations, primarily because of execution issues in North America along with unfavorable currency exchange rates, mainly in Europe. We are lowering our corporate credit rating on Quiksilver to 'CCC+' from 'B-'. We are also lowering the issue-level rating on the company's €200 million European senior unsecured notes due 2017 to 'CCC+' from 'B-' and maintaining the '4' recovery rating. We are also lowering our issue-level ratings on the company's $280 million senior secured notes due 2018 to 'CCC' from CCC+' and maintaining the '5' recovery rating. Lastly, we are lowering the issue-level ratings on the company's $225 million senior unsecured notes due 2020 to 'CCC-' from 'CCC'

  
Brief Excerpt:

... continues to be weak, and well below our expectations, primarily because of execution issues in North America along with unfavorable currency exchange rates, mainly in Europe....

  
Report Type:

Research Update

Ticker
ZQK
Issuer
Boardriders Inc.
GICS
Apparel , Accessories & Luxury Goods (25203010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Quiksilver Inc. Downgraded To 'CCC+' On Continued Weak Operating Performance And Weakening Liquidity; Outlook Negative" Jun 19, 2015. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Quiksilver-Inc-Downgraded-To-CCC-On-Continued-Weak-Operating-Performance-And-Weakening-Liquidity-Outlook-Negative-1406788>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Quiksilver Inc. Downgraded To 'CCC+' On Continued Weak Operating Performance And Weakening Liquidity; Outlook Negative Jun 19, 2015. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Quiksilver-Inc-Downgraded-To-CCC-On-Continued-Weak-Operating-Performance-And-Weakening-Liquidity-Outlook-Negative-1406788>
  
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