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Belk, Inc.: Update to credit analysis

Our credit view of Belk reflects its solid market position in its regions and its significant off-mall store footprint offset by its weak liquidity and unsustainably high leverage.

Moody's announces completion of a periodic review of ratings of Belk, ...

Moody's Investors Service (Moody's) has completed a periodic review of the ratings of Belk, Inc. and other ratings that are associated with this issuer. The review was conducted through a rating committee held on 7 February 2024 in which Moody's reassessed the appropriateness of the ratings in the ...

Belk, Inc.: Credit update after downgrade of CFR to Caa3

Our credit view of Belk reflects its unsustainable capital structure and weak liquidity as well as its solid market position in its regions and its significant off-mall store footprint.

Moody's downgrades Belk's CFR to Caa3

Moody's Investors Service ("Moody's") today downgraded  Belk, Inc.'s ("Belk") ratings, including its corporate family rating ("CFR") to Caa3 from Caa2; probability of default rating ("PDR") to Caa3-PD from Caa2-PD, its first lien first out term loan ("FLFO") to Caa3 from Caa1 and first lien second o...

Belk, Inc.: Update to credit analysis

Our credit view of Belk reflects its weak credit metrics as the company continues to work to return historical levels of profitability and contend with its elevated debt levels.

Moody's announces completion of a periodic review of ratings of Belk, ...

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Belk, Inc.. Global Credit Research- 23 Feb 2022. New York, February 23, 2022-- Moody's Investors Service has completed a periodic review of the ratings of Belk, Inc. and other ratings that are associated with the same analytical unit.

Moody's announces completion of a periodic review of ratings of Belk, ...

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Belk, Inc.. Global Credit Research- 09 Apr 2021. New York, April 09, 2021-- Moody's Investors Service has completed a periodic review of the ratings of Belk, Inc. and other ratings that are associated with the same analytical unit.

Belk, Inc.: Assignment of Caa2 CFR with a negative outlook

Our credit view of Belk Inc, reflecting its high debt and high leverage post is emergence from Chapter 11.

Moody's downgrades Belk's PDR to D-PD following Chapter 11 filing

Rating Action: Moody's downgrades Belk's PDR to D-PD following Chapter 11 filing. Global Credit Research- 25 Feb 2021. New York, February 25, 2021-- Moody's Investors Service, today downgraded Belk, Inc.' s probability of default rating to D-PD from Ca-PD/ LD following the company's announcement of its voluntary prearranged Chapter 11 proceeding.

Moody's appends Belk's Probability of Default rating of Ca-PD with LD ...

Announcement: Moody's appends Belk's Probability of Default rating of Ca-PD with LD designation. Global Credit Research- 04 Feb 2021. New York, February 04, 2021-- Moody's Investors Service, today appended Belk, Inc.' s probability of default rating of Ca-PD with the "/ LD" designation as a result of the company's missed amortization and interest payment on its term loan facilities which constitutes a default under Moody's definition.

Belk, Inc.: Update following downgrade of CFR to Ca

Our credit view of Belk, reflecting weak performance during the pandemic, its weak liquidity and its announced restructuring to reduce its interest and debt burden.

Moody's downgrades Belk's CFR to Ca upon entering a Restructuring Supp...

Rating Action: Moody's downgrades Belk's CFR to Ca upon entering a Restructuring Support Agreement. Global Credit Research- 29 Jan 2021. New York, January 29, 2021-- Moody's Investors Service, today downgraded Belk, Inc.' s corporate family rating to Ca from Caa1 and its probability of default rating to Ca-PD from Caa1-PD.

Belk, Inc.: Update following downgrade of CFR to Caa1, outlook remains...

Belk’s credit profile is constrained by the cash drain expected to result from store closures as a result of COVID-19, modest scale, and regional concentration in the southeast.

Moody's announces completion of a periodic review of ratings of Belk, ...

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Belk, Inc.. Global Credit Research- 24 Apr 2020. New York, April 24, 2020-- Moody's Investors Service has completed a periodic review of the ratings of Belk, Inc. and other ratings that are associated with the same analytical unit.

Moody's downgrades Belk CFR to Caa1; outlook remains negative

Rating Action: Moody's downgrades Belk CFR to Caa1; outlook remains negative. Global Credit Research- 03 Apr 2020. New York, April 03, 2020-- Moody's Investors Service, today downgraded Belk, Inc.' s Corporate Family to Caa1 from B2 and its Probability of Default Rating to Caa1-PD from B2-PD.

Belk, Inc.: Credit Opinion Update

Belk’s B2 CFR is supported by the company’s good liquidity, free cash flow, modest scale, and regional concentration in the southeast.

Belk, Inc.: Belk, Inc. announces offer to extend the maturity date of...

Belk, Inc. plans to extend the maturity date of a significant portion of its term loan to July 2025 from December 2022, which is a credit positive

Moody's announces completion of a periodic review of ratings of Belk, ...

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Belk, Inc.. Global Credit Research- 12 Jun 2019. New York, June 12, 2019-- Moody's Investors Service has completed a periodic review of the ratings of Belk, Inc. and other ratings that are associated with the same analytical unit.

Belk, Inc.: Credit Opinion Update

Belk’s B2 CFR is supported by the company’s good liquidity and free cash flow, modest scale, and regional concentration in the southeast.

Moody's affirms B2 CFR for Belk; outlook changed to Negative

Moody's Investors Service ("Moody's") today affirmed Belk, Inc.'s ("Belk") B2 Corporate Family and B2-PD Probability of Default Rating. Moody's also affirmed the company's senior secured first lien term loan at B2. The outlook has been changed to negative. "Belk ...

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