Belk Downgraded by Standard & Poor’s after Restructuring Deal
The ratings agency lowered Belk’s issuer credit rating and issue-level rating on its first-lien term loan to CC from CCC, saying that it views owner Sycamore Partners’ deal with lenders as tantamount to a default. The restructuring proposal calls for lenders to take a $450 million haircut, ... Log in to view full article.
