Quiksilver had reached agreements for €268 million in aggregate of four-year credit facilities, which are expected to close by the end of September 2009. Quiksilver remains on CreditWatch Developing until the closing of the European credit facilities. On Aug. 4, 2009, Standard&Poor's Ratings Services said that the ratings on Quiksilver Inc., including the 'B-' corporate credit rating, remain on CreditWatch with developing implications where they were originally placed on March 17, 2009, following the company's initial announcement of an extension on the maturity of its €55 million line of credit agreement. Quiksilver had also indicated that it intended to conclude a strategic or refinancing transaction in the period covered by the extension. Quiksilver recently announced that it had
