Moody's assigns J.Crew DIP facility B2

Moody's Investors Service said it assigned a B2 rating to the $400 million senior secured super-priority debtor-in-possession term loan facility of Chinos Intermediate Holdings A, Inc. (parent of J.Crew Group Inc.).

Proceeds will be used to fund the company through the Chapter 11 process. J.Crew and various subsidiaries filed for Chapter 11 on May 4.

Moody's withdrew all ratings of J.Crew after the filing.

The current rating is being assigned on a point-in-time basis and will not be monitored going forward, Moody’s said.

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