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Robert Daniel

Nine West, Cole Haan, apparel, footwear, private equity, retailing, Moody's, S&P
Nine West capital structure “unsustainable”: S&P Retail environment challenging: S&P and Moody’s Cole Haan: fashion risk, good brand recognition: Moody’s Nine West, the New York women’s apparel, footwear and accessories designer and retailer, is likely to restructure its debt because “its capital structure is unsustainable,” Standard & Poor’s says. Nine West recently retained Lazard Frères to […]
CityMD, healthcare, private equity, urgent care, medical services, Warburg Pincus
Urgent-care chain expands rapidly Risks include geographic concentration: S&P Firm is increasing customer usage, maintaining margins A strategy of rapid growth at City MD, the provider of urgent-care services largely in the New York City metro area, is proceeding well but entails “considerable” risk, Standard & Poor’s reported. Analyst Matthew O’Neill assigned a B- corporate-credit […]
Ferrara Candy, founded 1908, backed by L Catterton Current leverage 11x, adjusted 8.5x: S&P estimate S&P cut rating 1 notch; upgrade would require pared leverage Standard & Poor’s pared the rating for Ferrara Candy Co, producer of some iconic brands including Chuckles, Jujyfruits, Now & Later and Red Hots. The credit-rating firm cut the corporate […]
Immucor, S&P, Standard & Poor's, bonds, debt, private equity, TPG
TPG’s Immucor provides blood-, transplant-diagnostic products Profitability seen pressured and leverage elevated Offsets include strong market position in industry TPG Capital-backed Immucor saw its outlook cut to negative from stable by Standard & Poor’s, which said the provider of blood-transfusion- and transplant-diagnostic products and services may have a tough time refinancing a term loan coming due […]
Foresight Energy, Carlyle Group, Riverstone Holdings, Murray Energy, private equity, mining coal, debt
Foresight is major holder of U.S. coal reserves Debt revamp will defer payments on principal S&P sees improved debt-to-EBITDA multiple, lifts outlook Foresight Energy LP’s debt revamp and an equity infusion prompted S&P Global Ratings to upgrade the St. Louis coal producer’s outlook. Foresight, one of the largest holders of coal reserves in the U.S., is […]
PaperWorks Industries, Sun Capital, private equity, debt, leverage
Moody’s cuts Sun Capital’s PaperWorks to Caa1 Cites leverage level, scale, concentrated product line Weak packaged-food demand hurts packaging prices Moody’s Investors Service pared the credit rating of Sun Capital-backed PaperWorks Industries, citing the food-packaging producer’s weighty leverage, relatively small scale and concentrated product line. The credit-rating firm cut the corporate family rating of the Bala […]
Payless Inc., apparel, footwear, retail, private equity, Blum Capital, Golden Gate Capital, debt
Shoe retailer backed by Blum Capital, Golden Gate Capital S&P expects debt revamp within a year Corporate rating cut to CCC from B- Payless Inc, the footwear retailer, is increasingly likely to restructure its debt because its free operating cash flow has been persistently negative and liquidity is weaker as the availability of its revolving credit […]
EY M&A PE survey 2016
Second-half outlook for PE M&A ‘bright,’ EY says Overall M&A seen little affected by Brexit, U.S. election Buyout firms’ cash at record levels; ‘buying spree’ seen The second-half outlook for private equity merger activity is “bright,” coming off a tough first half and buoyed by stockpiles of cash available for investment, a report from a key consulting firm […]

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