Ethan Allen On Roller Coaster Ride of Glory!

Posted by MCC on November 20th, 2008 at 09:48am

The excitement of receiving one of the top honors awarded by the American Society of Furniture Designer’s was short lived for Ethan Allen. Just over a week later, the companies debt ratings get downgraded by Standard and Poor’s Rating Services!

While the judge’s from the ASFD praised Ethan Allen’s New Horizon’s collection, the companies debt ratings were critized by the investor service. Ethan Allen went from a BBB+ rating down to a BBB- rating which sets the company almost at the bottom of the ratings list.

While the most recent earning quarter for the company listed a profit of over $7 million, that amount was a massive decrease of 58% from just a year earlier. Ethan Allen has had a negative outlook from the rating service sine the fourth quarter of last year.

Under Furniture News