05-30-02
RTO Online
In a press release issued today, S&P announced an upgrade of
Rent A Center's outlook from 'Negative' to 'Stable'. This upgrade is a result of
RAC's efforts in lowering operating expenses, and a judgment by S&P that
outstanding litigation will not "Materially affect" its credit measures.
According to S&P, Rent A Center has an 'agreement in principle'
to settle the gender discrimination suit. The agreement is supported by the EEOC.
Rent A Center still faces a suit alleging that the company
issued a series of misleading statements to the market and two suits regarding
the legality of its rental purchase agreements.
At 4:00 pm today Rent A Center (RCII)
was up nearly 5% at $56.80 on heavy trading but still off it's high of $63.50
from mid May.
end
Home
|
