By  on July 23, 2009

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.

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