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    Thursday, November 19, 2009

    Moody's Downgrades Liz Claiborne's Rating To 'B3'

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    By Sue Chang
    MarketWatch Pulse
       

      SAN FRANCISCO -- Moody's Investors Service on Thursday lowered Liz Claiborne's corporate family rating to B3 from B2, citing its operating losses this year. "The downgrade of Liz's ratings reflect our expectations that the company's credit metrics will remain weak for an extended period of time as it recovers from the meaningful operating losses anticipated in 2009. While we expect the company to begin to improve performance in 2010, it is unlikely to achieve metrics appropriate for the B2 rating," said Moody's Vice President Scott Tuhy. The outlook is stable.

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