By  on July 20, 2009

Moody’s Investors Service lowered its corporate credit rating for St. John Knits International Inc. based on weaker-than-expected performance.

The corporate family rating was lowered to “B3” from “B2,” indicating high credit risk, while the probability of default rating declined to “Caa1,” indicating very high credit risk, from “B3.” About $177 million of debt is affected. The outlook is negative.

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