Quiksilver Downgraded By Moody’s
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- January 16 2009
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- 3 comments
According to an MSN Money story published Thursday, Jan. 15, Moody’s downgraded Quiksilver a notch from “Caa1″ to “B3″, citing the company’s weak fourth-quarter performance and reliance on short-term debt as an indicator of vulnerability.
“The ratings agency cut Quiksilver’s corporate family and probability of default ratings to “B3″ from “B2.” The rating is an opinion on the company’s ability to honor all its financial obligations and is assigned to a corporate family as if it had a single class of debt and a single consolidated entity structure.
One-quarter of Quiksilver’s debt is due in its current fiscal year, Moody’s said. The rating agency’s outlook on the company is negative.
Shares of Quiksilver rose 20 cents, or 13.5 percent, to close at $1.68.”
Read the entire story HERE.
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January 16th, 2009 at 10:22 am
GAH!? No, it’s more like !MEGA-GAH! Bigtime downgrade for sure! Let the facts speak for themselves. There’s your proof to those who call some of us posters “haters” of Quik. Quiksilver should change their name to “Slowtin”. Wow, what a ballbustin’ report! I can hear “Taps” playing on a rusty trumpet in the background now…
January 19th, 2009 at 11:39 am
Funny how no one else has commented on this thread. I guess no one really cares if Quik was downgraded…AGAIN.
January 19th, 2009 at 12:59 pm
how do you top Slow-tin for Quik-silver ; get it !thats funny