30.07.2013 00:44:00

Lord & Taylor Holdings LLC -- Moody's places Lord & Taylor's ratings on review for downgrade

New York, July 29, 2013 -- Moody's Investors Service today placed Lord & Taylor Holdings, LLC ratings, including its B1 Corporate Family Rating, on review for downgrade. The review for downgrade follows the announcement that Lord & Taylor's parent company, Hudson's Bay Company, has agreed to purchase Saks for $16 per share or a total transaction price of approximately $2.9 billion in a transaction that will be largely funded with debt.

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