skip to main content
Find Insight DIY on
* * *

UK DIY News

Matalan's credit rating downgraded

Matalan’s credit rating was downgraded by Standard & Poor on Tuesday, with one debt facility cut to ‘junk’ status, it is understood.

The discount clothing and homewares retailer last month reported a profit slump of 63% to £13.6m for its second quarter.

Influential credit agency Standard & Poor said Matalan has been hit by high unemployment, inflation and fragile consumer confidence.

The retailer was downgraded one notch to B and Standard & Poor cut the rating on its £225m debt to ‘junk’.

In its second quarter financials Matalan blamed the tough climate, promotional activity and higher input costs for the plunge in EBITDA.

Source : Tiffany Holland – Retail Week
www.retail-week.com/sectors/fashion/matalans-credit-rating-downgraded/5030800.article

02 November 2011
view more UK DIY News
*

Thank you for the excellent presentation that you gave at Woodbury Park on Thursday morning. It was very interesting and thought-provoking for our Retail members. The feedback has been excellent.

*
Martin Elliott. Chief Executive - Home Hardware.
Newsletters

Don't miss out on all the latest, breaking news from the DIY industry