Moody’s Investors Service cut its credit rating on Neiman Marcus Group and weighed in on the prospective financing package that will fund the company’s $6 billion takeover and add another $1.9 billion in debt.
The debt watchdog reduced its corporate family rating on the retailer to “B3” from “B2,” and said the downgrade “acknowledges that the company’s debt levels will increase to about $4.6 billion from $2.7 billion as a result of [Neiman’s] $6 billion leveraged buyout by Ares Management LLC and the Canada Pension Plan Investment Board.”
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)