On Nov. 24, 2003, Standard&Poor's Ratings Services placed its ratings on houseware manufacturer and marketer WKI Holding Co. Inc. on CreditWatch with negative implications. This includes the 'B' corporate credit and senior secured bank loan ratings on WKI as well as the company's 'CCC+' subordinated debt rating. CreditWatch with negative implications means that the ratings could be affirmed or lowered following the completion of Standard&Poor's review. Reston, Va.-based WKI had about $405 million of total debt outstanding at Sept. 28, 2003. The CreditWatch placement reflects Standard&Poor's heightened concerns about challenging industry conditions. Also, WKI's fourth quarter results might fall below the level necessary for the company to maintain compliance with its minimum EBITDA bank
