25.08.2016, 18:56
Fitch Downgrades Signet's IDR
OREANDA-NEWS. Fitch Ratings has downgraded the Long-Term Issuer Default Rating (IDR) for Signet Jewelers Limited (Signet) to 'BB+' from 'BBB-'. The Rating Outlook is Stable. A full list of ratings follows at the end of this release.
The downgrade is due to weakening operating trends across Signet's brands, coupled with the announcement of a $625 million preferred equity investment by Leonard Green & Partners (Leonard Green), which Fitch treats as debt. Together, these issues are expected to elevate Signet's leverage profile over the medium term.
The downgrade is due to weakening operating trends across Signet's brands, coupled with the announcement of a $625 million preferred equity investment by Leonard Green & Partners (Leonard Green), which Fitch treats as debt. Together, these issues are expected to elevate Signet's leverage profile over the medium term.
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