Moody’s Downgrades Next Level after Cotton Write-Down
Next Level parent, YS Garments LLC, which is owned by Blue Point Capital Partners, saw Moody’s downgrade its corporate family rating and senior secured bank credit facilities rating to Caa2 from Caa1. The outlook was changed to negative from stable. The downgrades are attributable to Next Level’s decision to quarantine a small amount of its cotton fabric inventory after it ... Log in to view full article.
