Daily News Record, July 30th, 1991
NEW YORK -- (FNS) -- Standard & Poor's Corp., citing Burlington's weak operating performance and near-term financial pressures, down-graded about $900 million in the senior debt ratings of Burlington Industries Capital, Inc., and Burlington Holdings, Inc.
S&P said Burlington may be unable to meet certain bank-interest coverage ratio requirements as early as the quarter ending December 1991.
The ratings on Burlington Industries Capital, Inc.'s senior unsecured debt was lowered to triple-C-plus from single-B-minus. Burlington Holdings, Inc.'s senior subordinated debt was lowered to triple-C-...
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