| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers N > Headlines for NMG Holding Co., Inc. > News item |
S&P ups Neiman Marcus
S&P said it upgraded its ratings for NMG Holding Co. Inc. (Neiman Marcus) to B- from CCC+.
“Neiman's performance has improved faster than our previous expectation, accelerating forecast deleveraging such that we now anticipate leverage will be below 6x in fiscal 2022. Revenue expanded 25.6% for the third quarter of fiscal 2021, which was modestly above our expectations,” S&P said in a press release.
“We now expect that S&P Global Ratings-adjusted leverage will be below 6x in fiscal 2022 (ending Aug. 1, 2022; we previously forecast 6x-7x), with further deleveraging anticipated in fiscal 2023,” the agency noted.
The outlook is positive.
© 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.