S&P Raises Credit Ratings for Samsonite

A recent recapitalization improves the company's financial profile by lowering its total debt and preferred stock burden, and eliminates onerous near-term bank maturities

On Aug. 7, 2003, Standard & Poor's Ratings Services raised its corporate credit rating on luggage and travel-related products manufacturer Samsonite Corp. to 'B' from 'B-'. At the same time, Standard & Poor's raised Samsonite's subordinated debt rating to 'CCC+' from 'CCC'. The ratings have been removed from CreditWatch, where they were placed Oct. 7, 2002.

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