By  on February 27, 2014

Sycamore Partners’ $1.2 billion deal to buy The Jones Group Inc. will carve out Stuart Weitzman, Kurt Geiger and Jones apparel as independent businesses and leave the rest of the company — which will be renamed Nine West Holdings Inc. — with a heavy debt load going forward.

Debt watchdog Moody’s Investors Service downgraded its prospective corporate family credit rating on Nine West to “B3” from the “B2” assigned last month. The financing package was recently tweaked, cutting Sycamore’s equity input by $250 million and adding a commensurate amount of bonds.

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