S&P Raises Carter's Debt Rating 1 Notch
Stock quotes in this article:
CRI
SAN FRANCISCO (AP) — Standard & Poor's raised its rating on Carter's Inc.'s corporate debt by a notch to the highest rating still in junk territory and kept its outlook as stable.
The rating was raised to BB+ from BB. Standard & Poor's credit analyst Bea Chiem said the rating improvement was based on Carter's higher sales in wholesale and retail channels, cost cuts, better management of working capital, and the company's improvement in performance of the OshKosh brand. Atlanta-based Carter's makes clothes for infants and children. Its shares rose 39 cents to $27.01 in afternoon trading.- Loading Comments...
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