Samsonite International S.A. Corporate Credit Rating Affirmed At 'BB'; Outlook Revised To Positive - S&P Global Ratings’ Credit Research

Samsonite International S.A. Corporate Credit Rating Affirmed At 'BB'; Outlook Revised To Positive

Samsonite International S.A. Corporate Credit Rating Affirmed At 'BB'; Outlook Revised To Positive - S&P Global Ratings’ Credit Research
Samsonite International S.A. Corporate Credit Rating Affirmed At 'BB'; Outlook Revised To Positive
Published Apr 12, 2017
4 pages (1403 words) — Published Apr 12, 2017
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

Samsonite International S.A. (Samsonite) continues to deleverage with its revenue and EBITDA growth. The Tumi Holdings Inc. (Tumi) integration continues to be on track. As a result, we believe that Samsonite may deleverage to below 3x within the next 12 months. We are revising the outlook to positive from stable. We are affirming all of our ratings on the company, including our 'BB' corporate credit rating. The positive outlook reflects our belief that we could raise the ratings within the next 12 months if Samsonite can reduce debt leverage to and sustain it at about 3x or below and continues to generate good free operating cash flow. SAN FRANCISCO (S&P Global Ratings) April 12, 2017--S&P Global Ratings today revised the

  
Brief Excerpt:

...+ Samsonite International S.A. (Samsonite) continues to deleverage with its revenue and EBITDA growth. The Tumi Holdings Inc. (Tumi) integration continues to be on track. + As a result, we believe that Samsonite may deleverage to below 3x within the next 12 months. We are revising the outlook to positive from stable. + We are affirming all of our ratings on the company, including our '##' corporate credit rating. + The positive outlook reflects our belief that we could raise the ratings within the next 12 months if Samsonite can reduce debt leverage to and sustain it at about 3x or below and continues to generate good free operating cash flow. SAN FRANCISCO (S&P Global Ratings) April 12, 2017--S&P Global Ratings today revised the outlook to positive from stable and affirmed its '##' corporate credit rating. We also affirmed our '###-' issue-level ratings on the company's senior secured credit facilities consisting of a $500 million revolver due 2021, a $1.25 billion term loan A due 2021,...

  
Report Type:

Ratings Action

Ticker
SMSEY
Issuer
Samsonite International S.A.
GICS
Apparel, Accessories & Luxury Goods (25203010)
Sector
Global Issuers
Country
Luxembourg
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Samsonite International S.A. Corporate Credit Rating Affirmed At 'BB'; Outlook Revised To Positive" Apr 12, 2017. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Samsonite-International-S-A-Corporate-Credit-Rating-Affirmed-At-BB-Outlook-Revised-To-Positive-1831210>
  
APA:
S&P Global Ratings’ Credit Research. (). Samsonite International S.A. Corporate Credit Rating Affirmed At 'BB'; Outlook Revised To Positive Apr 12, 2017. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Samsonite-International-S-A-Corporate-Credit-Rating-Affirmed-At-BB-Outlook-Revised-To-Positive-1831210>
  
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