S&P: J. Crew outlook stable

Standard & Poor's said it revised its outlook on J. Crew Group Inc. to stable from positive and affirmed the company's ratings, including its BB- corporate credit rating.

The agency said the outlook revision is due to J. Crew's much weaker-than-expected operating performance in the fourth quarter of 2008 and S&P's belief that this weak performance will continue into fiscal 2009.

Nevertheless, the agency expects credit metrics to remain in line with the current rating, including leverage that will likely reach the mid-3 times range at the end of 2009.

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