ascena retail group Comments on S&P Global Ratings Report
ASCENA RETAIL GROUP (ASNA)
Last ascena retail group earnings: 6/10 04:06 pm
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US:NASDAQ Investor Relations:
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Source: GlobeNewswire
MAHWAH, N.J., March 12, 2020 (GLOBE NEWSWIRE) -- ascena retail group, inc. (Nasdaq: ASNA) (“ascena” or the “Company”) today issued the following statement in response to the recent report from S&P Global Ratings (“S&P”) relating to the Company: As previously stated publicly, the ascena Board and management team continue to take proactive actions designed to optimize the Company’s balance sheet. Bankruptcy is not being considered. The Company remains in full compliance with all of its obligations under its financing agreements and intends to remain so. The rating change initiated by S&P today is a technical action pertaining to ascena’s debt repurchase activity and is unrelated to its financial or operational performance, or strategic path forward. The debt repurchases are associated with the Company’s balance sheet optimization efforts. As noted in the S&P report, S&P expects the issuer rating change to be temporary and that the rating would be raised to the low ‘CCC’ category
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