S&P: Barney's developing

Standard & Poor's said it placed its ratings on Barneys New York Inc., including the B corporate credit rating, on CreditWatch with developing implications following the company's announcement that it has hired advisers to explore strategic alternatives, including a potential sale of the company.

Barneys had about $91 million in funded debt as of May 1.

S&P rates Barney's corporate credit at B and its senior secured debt at B-.

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