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.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus