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Moody's downgrades Jo-Ann's CFR to Ca and PDR to D-PD following Chapte...

Moody's Ratings (Moody's) downgraded Jo-Ann Stores LLC.'s ("Jo-Ann") corporate family rating (CFR) to Ca from Caa3 and probability of default rating (PDR) to D-PD from Caa3-PD. At the same time, Moody's affirmed the company's C rating on the senior secured first lien term loan B1. The rating outlook...

Jo-Ann Stores LLC.: Update to credit analysis after downgrade to Caa3 ...

Our credit view of Jo-Ann Stores reflects its weak liquidity and unsustainably high leverage.

Moody's downgrades Jo-Ann's CFR to Caa3; outlook remains negative

Moody's Investors Service (Moody's) downgraded Jo-Ann Stores LLC.'s ("Jo-Ann") corporate family rating (CFR) to Caa3 from Caa2, its probability of default rating (PDR) to Caa3-PD from Caa2-PD and its senior secured first lien term loan B1 to C from Caa2. The outlook is maintained at negative. Its sp...

Jo-Ann Stores LLC.: Update to credit analysis after downgrade to Caa2 ...

Our credit view of Jo-Ann reflects the high likelihood of a distressed exchange given its very high financial leverage and financial sponsor ownership.

Moody's downgrades Jo-Ann's CFR to Caa2; outlook negative

Moody's Investors Service ("Moody's") downgraded Jo-Ann Stores LLC.'s ("Jo-Ann") corporate family rating (CFR) to Caa2 from B3, its probability of default rating (PDR) to Caa2-PD from B3-PD. And its senior secured first lien term loan B1 to Caa2 from B3. Its speculative grade liquidity rating (SGL) ...

Jo-Ann Stores LLC.: Update to credit analysis after downgrade to B3

Our credit view of Jo-Ann Stores reflects its adequate liquidity and lack of near dated debt maturities offset by very high leverage and challenges posed by higher costs and slowing demand.

Moody's downgrades Jo-Ann's CFR to B3; outlook negative

Moody's Investors Service ("Moody's") downgraded Jo-Ann Stores LLC.'s ("Jo-Ann") corporate family rating to B3 from B2, its probability of default rating to B3-PD from B2-PD, and its first lien term loan to B3 from B2. Its speculative grade liquidity rating was downgraded to SGL-3 from SGL-2. The ou...

Jo-Ann Stores LLC.: Update to credit analysis

Our credit view of Jo-Ann Stores reflects the generally resilient nature of sewing and crafts, its good liquidity offset by the continued pressure from higher supply chain and product costs.

Moody's announces completion of a periodic review of ratings of Jo-Ann...

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Jo-Ann Stores LLC. Global Credit Research- 28 Jan 2022. New York, January 28, 2022-- Moody's Investors Service has completed a periodic review of the ratings of Jo-Ann Stores LLC. and other ratings that are associated with the same analytical unit.

Jo-Ann Stores LLC.: Update to credit analysis following upgrade of CFR...

Our credit view of Jo-Ann Stores LLC, reflecting its strength during the pandemic and its recent public equity offering offset by its small scale.

Moody's upgraded Jo-Ann's stores CFR to B2 from Caa1; first lien term ...

Rating Action: Moody's upgraded Jo-Ann's stores CFR to B2 from Caa1; first lien term upgraded to B2. Global Credit Research- 18 Mar 2021. New York, March 18, 2021-- Moody's Investors Service, upgraded Jo-Ann Stores LLC.' s corporate family rating to B2 from Caa1, its probability of default rating to B2-PD from Caa1-PD, and its first lien term loan to B2 from Caa1.

Moody's announces completion of a periodic review of ratings of Jo-Ann...

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Jo-Ann Stores LLC. Global Credit Research- 05 Mar 2021. New York, March 05, 2021-- Moody's Investors Service has completed a periodic review of the ratings of Jo-Ann Stores LLC. and other ratings that are associated with the same analytical unit.

Jo-Ann Stores LLC.: Update to credit analysis following downgrade to C...

Jo-Ann's credit profile reflects the negative impact of the COVID-19 outbreak on credit metrics and its aggressive financial strategies.

Moody's downgrades Jo-Ann's Stores CFR to Caa1

Rating Action: Moody's downgrades Jo-Ann's Stores CFR to Caa1. Global Credit Research- 26 Jun 2020. New York, June 26, 2020-- Moody's Investors Service, downgraded Jo-Ann Stores LLC.' s corporate family rating to Caa1 from B3, its probability of default rating to Caa1-PD/LD, its first lien term loan to Caa1 and second lien term loan to Ca.

Jo-Ann Stores LLC.: Update to credit analysis following downgrade to B...

Jo-Ann's B3 credit profile reflects the negative impact of the COVID-19 outbreak on credit metrics.

Moody's announces completion of a periodic review of ratings of Jo-Ann...

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Jo-Ann Stores LLC. Global Credit Research- 21 Apr 2020. New York, April 21, 2020-- Moody's Investors Service has completed a periodic review of the ratings of Jo-Ann Stores LLC. and other ratings that are associated with the same analytical unit.

Moody's downgrades Jo-Ann Stores CFR to B3; outlook negative

Rating Action: Moody's downgrades Jo-Ann Stores CFR to B3; outlook negative. Global Credit Research- 01 Apr 2020. New York, April 01, 2020-- Moody's Investors Service, downgraded Jo-Ann Stores LLC.' s corporate family rating to B3 from B2, its probability of default rating to B3-PD from B2-PD, its first lien term loan to B3 from B1 and its second lien term loan was affirmed at Caa1.

Jo-Ann Stores LLC.: Update to credit analysis

Jo-Ann's B2 credit profile reflects its modest credit metrics and stable earnings profile.

Moody's announces completion of a periodic review of ratings of Jo-Ann...

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Jo-Ann Stores LLC. Global Credit Research- 30 May 2019. New York, May 30, 2019-- Moody's Investors Service has completed a periodic review of the ratings of Jo-Ann Stores LLC. and other ratings that are associated with the same analytical unit.

Jo-Ann Stores LLC.: Update to credit discussion

Jo-Ann's B2 CFR reflects its modest credit metrics and stable earnings profile.

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