Arcapita’ J.Jill suffers another ratings downgrade
Moody’s has downgraded Arcapita from B2 to B3 as the retailer’s sales stumbled and the significant leverage involved in the deal weighs on the company’s earnings. The outlook on the rating seems to be negative.
Moody’s re-rating comes after a similar downgrade from S&P in September, which dropped its rating on the loan from a B to a CCC with a negative outlook based on the risk that the company will breach its debt covenants.
Syndicate
