Moody's downgrades New Look's CFR to B3; stable outlook
London, 16 February 2017-- Moody's Investors Service, has downgraded to B3 from B2 the Corporate Family Rating of New Look Retail Group Limited, and to B3-PD from B2-PD its probability of default rating. "Our decision to downgrade New Look reflects the likelihood that, after deteriorating during 2016, profitability will remain weak over the next 12 to 18 months, as the company seeks to regain market share in a retail environment that we expect to remain challenging," says David Beadle,...
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