Standard & Poor’s Ratings Services on Wednesday lowered its corporate credit rating on BCBG Max Azria Group Inc., citing its “continued weak operating performance in the fourth quarter.”
The rating, previously “B-minus,” was lowered one tick to “CCC-plus.” Obligations in the CCC family are said to be “vulnerable to nonpayment and…dependent upon favorable business, financial and economic conditions.” CCC is the third level down from the line separating investment from speculative grade debt. BCBG’s outlook remained negative.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"