Moody’s affirmed Pure Fishing’s Caa2 corporate family rating and its probability of default rating at Caa2-PD, but appended it with a limited default designation, deeming recent amendments to the company’s sponsor loans and cash interest relief to be a distressed exchange. The outlook remains negative. Last month, Pure Fishing’s financial sponsor, Sycamore Partners Management L.P., agreed to provide additional liquidity by converting the cash interest on the ... Log in to view full article.