S&P cuts J. Jill unit to B-

S&P said it reduced its issuer credit rating on Jill Acquisition LLC to B- from B and lowered its issue-level rating on the borrowing unit’s senior secured term loan facility by the same amount.

The recovery rating remains 3, and the outlook is stable.

The outlook “reflects our view that Jill will continue to generate modestly positive free operating cash flow and maintain adequate sources of liquidity over the next 12 months despite our expectations for weaker credit metrics in fiscal 2019,” the rating agency said in a news release.

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