Advertisement

Bluestem Brands Ratings Lowered

Advertisement

On July 10, 2017, S&P Global Ratings lowered its corporate credit rating on Bluestem Brands, Inc. to CCC+ from B and its first-lien term loan rating to CCC+ from B. According to S&P Global, the downgrade reflects the expectation that Bluestem’s operating performance will continue to deteriorate, its debt leverage will remain very high and liquidity will weaken. Read more on distressed companies.