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Research Update: Lord & Taylor Holdings LLC Assigned 'B+' Corporate Credit Rating; Proposed Term Loan Assigned 'BB' Rating Jan 12 Product Image

Research Update: Lord & Taylor Holdings LLC Assigned 'B+' Corporate Credit Rating; Proposed Term Loan Assigned 'BB' Rating Jan 12

  • Published: January 2012
  • Standard & Poors

Abstract
U.S. specialty-retail department store chain Lord & Taylor is refinancing its existing capital structure. After receiving final documents and reviewing the terms, we are assigning our 'B+' corporate credit rating to the company. We are also assigning our 'BB' issue-level rating with a '1' recovery rating to the company's proposed $450 million term loan. The stable outlook reflects our expectations that the company will demonstrate performance gains over the near term, but at a lower rate given the difficult economy. On Jan. 24, 2012, Standard & Poor's Ratings Services assigned its 'B+' corporate credit rating to New York City-based Lord & Taylor Holdings LLC. The outlook is stable. At the same time, we assigned our 'BB' issue-level rating and '1'...

Companies mentioned in this report are: Lord & Taylor Holdings LLC
Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors READ MORE >

Lord & Taylor Holdings LLC

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