June 28, 2017
The ratings agency downgraded Remington’s Corporate Family Rating to Caa2 from Caa1 and its Probability of Default Rating to Caa2-PD from Caa1-PD citing uncertainly as to whether the company will be able to refinance debt maturing in the next two years.
The cuts were across the board and affected sales, marketing, supply chain and customer service in several of the company’s portfolio of brands.
The offer by PE firms Hillhouse Capital and CDH Investments announced in April to take Belle private will be put to a vote at an extraordinary general meeting of shareholders next month.
The lulunatics, perhaps the target of more unverified rumors than any other company in the sector, saw its stock pop briefly on a comment from Joshua Rodriguez of CNA Finance that there “a very real possibility.”
Nike co-founder Phil Knight on David Rubenstein’s show mostly talked about the same things that were in his recent book, Shoe Dog, but he did comment on Nike’s exit from the golf business that it was real simple.
Net loss narrowed to NT$91,622,000 ($3.0 million) from a loss of NT$599,163,000 in the first quarter benefitting from a NT$610 million positive swing in foreign exchange, as revenues slipped 1% to NT$4,412,638,000 ($145.1 million) from NT$4,439,534,000.
The recently merged paddle sports company hired industry veteran Charles L. Smith as chief executive officer.