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.
About Kerry Mastroianni
Kerry Mastroianni, the editor of The Distressed Company Alert, has been researching distressed and bankrupt companies for over 18 years. As a 10-year employee of New Generation Research, she is also a data editor for Bankruptcy Week and the editor for our annual Bankruptcy Yearbook & Almanac. Prior to Kerry’s employment at NGR, she worked for eight years as a research analyst for KPMG’s corporate recovery practice.