Tuesday, March 5, 2019

S&P cuts Neiman Marcus' credit ratings over concerns about debt restructuring

The Dallas Morning News
S&P Global Ratings on Monday lowered the credit ratings on Neiman Marcus' nearly $5 billion in debt because it doesn't expect the retailer's creditors to receive what they were promised.

The rating agency's downgrade, with a negative outlook, is a response to Neiman Marcus' disclosure Friday that it had reached a proposed debt restructuring with most of its lenders.. . . more