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Article Date: January 2021
Word Count: 95

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.


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