Moody's lifts Charming Shoppes view to positive

Moody's Investors Service changed the outlook of Charming Shoppes, Inc. to positive from stable, which acknowledges the company's continued improvement in profitability and credit metrics as well as its successful completion of the integration of the Crosstown Traders acquisition consummated last year.

Ratings affirmed for Charming Shoppes, Inc. include the corporate family rating at Ba3 and senior unsecured convertible notes at B2.

The Ba3 corporate family rating and positive outlook are supported by the company's profitability levels, size and scale, seasonality and financial policies, all which score at the Ba rating level. In addition, the company's improvement in profitability has moved its leverage and coverage metrics to levels appropriate for the Ba rating category from levels that had previously supported a B rating category, Moody's said.

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