Next Level parent, YS Garments LLC, which is owned by Blue Point Capital Partners, saw S&P Global lower its issuer credit rating to CCC from B-, with a negative outlook, after the company entered into a waiver agreement and amendment to its credit facilities with its lender through Sep. 2024. New preferred equity of $25 million will be used to pay down approximately $2.5 million of its revolver and $22.5 million of its term loan. S&P said the equity is expected to temporarily alleviate ... Log in to view full article.