Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
Standard & Poor's on Thursday affirmed its corporate credit rating on Barney's New York and removed it from CreditWatch.
Barney's was placed on watch with positive implications on April 22.
S&P said although the retailer's performance has improved recently, the agency remains concerned that Barney's capital structure is unsustainable.
The rating agency also lowered its issue-level rating to "CCC-" from "CCC" and revised its recovery rating to "5" from "3", saying the company's value has diminished over the past few years.