Samsonite International S.A. Ratings Placed On CreditWatch Negative On The Potential Fallout From The New Coronavirus - S&P Global Ratings’ Credit Research

Samsonite International S.A. Ratings Placed On CreditWatch Negative On The Potential Fallout From The New Coronavirus

Samsonite International S.A. Ratings Placed On CreditWatch Negative On The Potential Fallout From The New Coronavirus - S&P Global Ratings’ Credit Research
Samsonite International S.A. Ratings Placed On CreditWatch Negative On The Potential Fallout From The New Coronavirus
Published Mar 03, 2020
3 pages (1432 words) — Published Mar 03, 2020
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

Luxembourg-based Samsonite International S.A.'s business is dependent upon global travel and we believe that the continued global spread of the new coronavirus has led to heightened risks for its operating performance. For the 12 months ended Sept. 30, 2019, the company reported leverage of 3x, the same level as our maximum leverage ratio for the current rating, which provides it with a limited cushion to absorb any potential performance declines stemming from the virus' spread. We are placing all of of our ratings on Samsonite International S.A. and its subsidiaries on CreditWatch with negative implications. The CreditWatch placement indicates that we could lower or affirm our ratings on the company after we assess the potential impact of the new coronavirus

  
Brief Excerpt:

... business is dependent upon global travel and we believe that the continued global spread of the new coronavirus has led to heightened risks for its operating performance. - For the 12 months ended Sept. 30, 2019, the company reported leverage of 3x, the same level as our maximum leverage ratio for the current rating, which provides it with a limited cushion to absorb any potential performance declines stemming from the virus' spread. - We are placing all of of our ratings on Samsonite International S.A. and its subsidiaries on CreditWatch with negative implications. - The CreditWatch placement indicates that we could lower or affirm our ratings on the company after we assess the potential impact of the new coronavirus on global travel, review Samsonite's year-end 2019 earnings, and receive more information from management regarding their expectations for 2020. NEW YORK (S&P Global Ratings) March 3, 2020--S&P Global Ratings today took the...

  
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. Ratings Placed On CreditWatch Negative On The Potential Fallout From The New Coronavirus" Mar 03, 2020. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Samsonite-International-S-A-Ratings-Placed-On-CreditWatch-Negative-On-The-Potential-Fallout-From-The-New-Coronavirus-2391505>
  
APA:
S&P Global Ratings’ Credit Research. (). Samsonite International S.A. Ratings Placed On CreditWatch Negative On The Potential Fallout From The New Coronavirus Mar 03, 2020. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Samsonite-International-S-A-Ratings-Placed-On-CreditWatch-Negative-On-The-Potential-Fallout-From-The-New-Coronavirus-2391505>
  
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