Neiman Marcus Inc. got a thumbs-up from Moody’s Investors Service, which switched its rating outlook on the firm to “stable” from “negative” after the company extended a $600 million credit agreement last week.
The debt watchdog also upgraded the retailer’s speculative grade liquidity rating to “SGL-2” from “SGL-3.” Neiman’s corporate credit rating was kept at “Caa1,” indicating the firm’s debt is still “subject to very high credit risk,” according to Moody’s scale.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)