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Starbucks Corp. Short-Term Rating Lowered To 'A-3'; Outlook Revised To Negative

Published Feb 09, 2009

463 words — Published Feb 09, 2009

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Abstract:

NEW YORK (Standard&Poor's) Feb. 9, 2009--Standard&Poor's Ratings Services said today it revised its outlook on Seattle-based Starbucks Corp. to negative from stable. At the same time, we lowered the company's short-term rating to 'A-3' from 'A-2' and removed it from CreditWatch with negative implications, where it was placed Feb. 2, 2009. In addition, we affirmed the 'BBB' corporate credit rating. "The outlook revision reflects operating performance that deteriorated in the first quarter ended Dec. 28, 2008," said Standard&Poor's credit analyst Jackie E. Oberoi. Consolidated same-store sales were negative 10% and operating margins contracted 300 basis points for the 12 months ended Dec. 28, 2008, compared to a year ago. "While Starbucks has announced cost-cutting

Brief Excerpt:

RESEARCH Starbucks Corp. Short-Term Rating Lowered To 'A-3'; Outlook Revised To Negative Publication date: 09-Feb-2009 Primary Credit Analyst: Jackie E Oberoi, New York (1) 212-438-2895; jackie_oberoi@standardandpoors.com NEW YORK...

Report Type:

Ratings Action

Ticker

SBUX

Issuer

Starbucks Corp.

GICS

Restaurants (25301040)

Sector

Global Issuers

Country

United States

Region

United States

Format:

HTML

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Starbucks Corp. 'A-2' Short-Term Credit Rating On CreditWatch Negative – 2009/02/02 – US$ 150.00

Research Update: Starbucks Corp. 'A-2' Short-Term Rating Placed On CreditWatch Negative – 2009/02/02 – US$ 225.00

Bulletin: Starbucks Corp. Releases Weaker Q4 Earnings, But Ratings Unchanged – 2008/11/12 – Free

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MLA:	S&P Global Ratings’ Credit Research. "Starbucks Corp. Short-Term Rating Lowered To 'A-3'; Outlook Revised To Negative" Feb 09, 2009. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Starbucks-Corp-Short-Term-Rating-Lowered-To-A-3-Outlook-Revised-To-Negative-701516>

APA:	S&P Global Ratings’ Credit Research. (). Starbucks Corp. Short-Term Rating Lowered To 'A-3'; Outlook Revised To Negative Feb 09, 2009. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Starbucks-Corp-Short-Term-Rating-Lowered-To-A-3-Outlook-Revised-To-Negative-701516>

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