By  on August 14, 2009

Liz Claiborne Inc.’s $82.1 million in second-quarter losses weighed on its debt rating Thursday.

Moody’s downgraded the firm’s corporate family and probability of default ratings two notches to “B2” from “Ba3.” The rating on Claiborne’s 350 million euros, or $495.8 million, in senior unsecured notes was lowered to “Caa1” from “B2.” All Moody’s ratings on Claiborne’s debt were placed on review for further downgrade.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus