Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Chinos Intermediate 2 LLC > News item |
Moody's changes Chinos outlook to stable
Moody's Investors Service said it changed Chinos Intermediate 2 LLC's (J.Crew) outlook to stable from negative and affirmed J.Crew's ratings including its B2 corporate family rating, B2-PD probability of default rating and the B2 senior secured bank credit facility rating.
“The outlook change to stable reflects Moody's view that the company has strengthened its EBITDA margins and credit metrics in the fiscal year ended Feb. 3, 2024, through effectively managing promotions, product assortment and inventory levels, executing on the J.Crew Factory build-out strategy and implementing cost reductions.
“The company is also benefiting from lower freight and input costs and stabilized supply chains. For fiscal 2024 (year-ended Feb 3, 2024), Moody's anticipates EBITDA margins to expand about 250 bps and for debt/EBITDA to improve to about 2.85x from about 3.22x and EBITA/interest to improve to 1.85x from about 1.5x a year ago,” the agency said in a press release.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.