Moody’s drops Men’s Wearhouse

Moody’s Investors Service said it downgraded the Men’s Wearhouse, Inc.’s ratings, including its probability of default rating to D-PD from Caa2-PD, corporate family rating to Ca from Caa2, senior secured term loan rating to Ca from Caa2 and unsecured notes to C from Ca. The speculative-grade liquidity rating was downgraded to SGL-4 from SGL-3.

Moody’s changed the outlook to stable from negative.

The downgrades and change in outlook follow the company’s announcement it filed for protection under Chapter 11 of the U.S. Bankruptcy Code, the agency said.

Moody's said it will withdraw the ratings due to the bankruptcy filing.

© 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.