- Feb 26, 2009IT Holding SpA (ITH)
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Davide Vimercati
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UniCreditPerna, through an outside spokesman, declined to comment. Malo Cashmere
IT Holding, which also owns the Malo cashmere brand and Plus IT accessories unit, missed a loan payment in October and an extension three months later. Standard & Poor's cut its long-term corporate debt rating to "selective default" in December. On Feb. 9, Moody's Investors Service lowered its rating on the bonds to C, its lowest level, and downgraded the company's probability of default to D, signifying default on all obligations.
"If Ittierre loses the licenses, the value of the company will drop dramatically," said Davide Vimercati , an analyst at UniCredit Markets & Investment Banking in Milan.
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Perna, through an outside spokesman, declined to comment. Malo Cashmere <span class="company">IT Holding</span>, which also owns the Malo cashmere brand and Plus IT accessories unit, missed a loan payment in October and an extension three months later. Standard & Poor's cut its long-term corporate debt rating to "selective default" in December. On Feb. 9, Moody's Investors Service lowered its rating on the bonds to C, its lowest level, and downgraded the company's probability of default to D, signifying default on all obligations. <span class="sent"> "If Ittierre loses the licenses, the value of the company will drop dramatically," said <span class="analyst">Davide Vimercati</span> , an analyst at UniCredit Markets & Investment Banking in Milan. </span>...<span class="sent">"If <span class="company">It</span>tierre loses the licenses, the value of the company will drop dramatically," said <span class="analyst">Davide Vimercati</span> , an analyst at UniCredit Markets & Investment Banking in Milan. </span> "<span class="company">It</span> would really surprise me if designers weren't looking for alternatives to <span class="company">It</span>tierre, he said. To contact the reporter on this story: Armorel Kenna in Milan at akenna@bloomberg.net ; Chris Staiti at cstaiti@bloomberg.net .
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