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Moody’s cuts American Apparel to D-PD
Moody's Investors Service said it downgraded American Apparel, Inc.'s probability of default rating to D-PD from Caa3-PD.
The downgrade was prompted by American Apparel's Oct. 5 announcement that it initiated Chapter 11 bankruptcy proceedings.
The outlook was changed to stable from on review for downgrade.
These actions conclude the review for downgrade that commenced on Aug. 12.
Subsequent to these actions, Moody's will withdraw the ratings due to American Apparel's bankruptcy filing.
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